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Ring Energy, Inc. (REI)

NYSE American - NYSE American Delayed Price. Currency in USD
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4.5700+0.3100 (+7.28%)
At close: 04:00PM EDT
4.6100 +0.04 (+0.88%)
After hours: 07:57PM EDT
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  • K
    Kevin
    WTI finishes week at $115. REI swimming in profits. If their production is ramping as they have guided we are entering June in great shape and poised for lift-off. With these oil prices we need to start seeing $25M debt payments quarterly and significant cash position increases. Have a great Memorial Day weekend!
    Bullish
  • J
    James
    Re-upping this:

    Second Quarter:

    using 9600 boe/d (which is just above their highend guidance) and assuming 85% oil as bases.

    9600 boe/d = 8160 oil and 1440 natural gas

    April:
    8160 * 30 days * $101.64 WTI avg = $24.9m
    May:
    8160 * 31 days * $108.35 WTI avg = $27.4m
    June:
    Fair to assume at least the same $27.4m as May based on driving season, geo politics, etc.

    Natural gas price has only increased since 1Q when we averaged $6.49 / Mcf. Every 6Mcf = 1Bbl. But for these purposes, let’s assume price stays same.
    1440 * 91 days = 131,040 Mcf or 786,240 bbl
    786,240 * $6.49 = $5.1m

    $79.7 oil
    $5.1 natural gas
    $84.8 total revenue for 2Q

    the derivative swaps will pull the following:
    April: $5.6m
    May: $6.7m
    June $6.7m (assuming at least May numbers)
    $19m total

    $84.8m - $19m = $65.8m

    So, even after we back out the swaps we still hit the average analyst estimate for 2Q of $66.5m. Pretty nuts. We are going to kill.
    Bullish
  • K
    Kevin
    114 WTI. With stronger production this quarter and higher average sales prices looking like another strong quarter for REI. IMO we are trending to $1 EPS for the year and should be looking at a $7-$8 SP this year.
    I am holding to my target of $6 by first day of Summer.
    Bullish
  • K
    Kevin
    💰 💰 💰 pouring in as oil trading in a tight range near $110. REI will eliminate a lot of debt this year and increase its cash position. This along with a sale of their Delaware Basin assets could place them at zero net debt by EOY. Trading at a low forward PE and as production increases during year the SP will leave $4-$5 range well behind.
    Bullish
  • D
    Danielle
    Agreed Kevin…… we all just need to sit tight and remember that summer has just begun… The travel season will be picking up, people are desperate to do things… Oil prices will hopefully remain high, and REI is making money… It’s just a matter of time until the shareholders do too. 🤞🏼🤞🏼🤞🏼 patience is difficult, but I believe it will be rewarded.
  • x
    xr0N
    bought into this about where it is now. it's been going sideways for a while. any chance it'll go up in the next month? honestly don't know a lot about oil. it just sounded like a good idea at the time. 🤷
  • M
    Mary Ann
    Any company making $1.00 in earnings and trading at $4.00 I’ll buy all day long.
    Bullish
  • K
    Kevin
    REI making another wild move down well off highs of the day with WTI up over $114. Boy does this stock get played.
  • m
    michel
    rei eps 2022 projection has been raised in fidelity summary to 90c from 82c with 25c for current quarter.
  • J
    JIMBO
    looking for 4.75 today ....
  • D
    Danielle
    Very disappointed in REI’s day today….. all things being equal, this should have been a great day to move up in SP.
    Is there something going on here that we are not aware of? Possibly. 😫🤷‍♀️🧐
  • K
    Kevin
    API draws
    Crude + 567k
    Gasoline - 4.2M
    Distillates - 949k

    REI way undervalued.
    Bullish
  • P
    Patrick
    If you are an investor recommend you not look at this stock on a daily basis; REI is making money and will certainly reward you. However if you are a trader you have to swing this stock and appreciate when the shorts hand you these nice prices.
  • J
    JIMBO
    should pop today big time. .50
  • c
    charlie
    Think bout this. As foreign leaders like in. Columbia threaten oil production They will push crude even higher Result is good news for domestic stocks like REI
    Bullish
  • J
    James
    using 9600 boe/d as basis (which is just above their high-end guidance of 9400) and assuming 85% gas.

    9600 or 8160 gas and 1440 gas

    April:
    8160 * 30 days * $101.64 avg wti = $24.9m

    May:
    8160 * 31 days * $107.18 avg wti = $27.1m

    June:
    ?. summer driving, etc. seems likely we at least hit same number as May.

    Gas prices have only increased since 1Q when we sold at $6.49/Mcf. But let’s assume that as the 2Q average.

    1440 * 91 days = 131,040 or 786,240 (6Mcf : 1 Bbl)
    786,240 * $6.49 = $5.1m

    $79m for oil
    $5.1m for gas
    $84.1m total revenue (approx $17m of that will go to swaps, leaving about $67m)

    would blow away the highest rev estimates by analysts and these numbers could be conservative if avg sale prices continue to climb for oil and gas.
    Bullish
  • P
    Patrick
    Short volume was very heavy Friday to manipulate price toward expiring options; heavy call options at $4.50 for June 17; we should see nice move up especially at this low price.
  • J
    JIMBO
    looking for 4.50 today
  • A
    Anonymous
    Sure would like to wake up some morning to news they had sold the Delaware assets for about 120M.. Must be asking to much if they can't sell with todays oil and gas prices...
  • K
    Kevin
    WTI now over $112. US oil in high demand. REI way undervalued and poised to jump to $6 by 1st day of Summer.
    Bullish
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