This slump shouldn’t be too much of a surprise to investors, as the exploration and production company has seen 2 negative revisions in the past few weeks and 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 #4 (Sell) while its Earnings ESP is negative.
Some better-ranked stocks in the same sector include Sandridge Mississippian Trust II (SDR), Atlas Resource Partners, L.P. (ARP) and Cheniere Energy, Inc. (LNG). While Sandridge Mississippian Trust sports a Zacks Rank #1 (Strong Buy), Atlas Resource Partners and Cheniere Energy hold a Zacks Rank #2 (Buy).
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