This slump shouldn’t be too much of a surprise to investors. Though it has seen no negative revisions in the past few weeks, its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
REI currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Investors interested in the oil exploration and production industry may consider better-ranked stocks like Encana Corporation (ECA), Ultra Petroleum Corp. (UPL) and Midstates Petroleum Company, Inc. (MPO). All these stocks carry a Zacks Rank #1 (Strong Buy).
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RING ENERGY INC (REI): Free Stock Analysis Report
ENCANA CORP (ECA): Free Stock Analysis Report
ULTRA PETROLEUM CORP (UPL): Free Stock Analysis Report
MIDSTATES PETROLEUM CO INC (MPO): Free Stock Analysis Report
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