Ring Energy, Inc. (REI) was a big mover last session, as the company saw its shares rise over 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for the company as the stock is now down more than 8% in the past one-month time frame.
The company has seen no estimate revision in the past 30 days, while its Zacks Consensus Estimate moved lower over the same time frame, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward to see if Friday’s jump lasts.
Ring Energy currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.
Some better-ranked stocks in the oil and gas drilling and exploration industry include Abraxas Petroleum Corp. (AXAS), Clayton Williams Energy, Inc. (CWEI) and Harvest Natural Resources Inc. (HNR). All these carry a Zacks Rank #1 (Strong Buy).
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