Ring Energy, Inc. ( REI ) is engaged in the exploration and development of oil and gas and could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on REI's earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Ring Energy could be a solid choice for investors.
Current Quarter Estimates for REI
In the past 30 days, 3 estimates have gone higher for Ring Energy while 2 have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 2 cents a share 30 days ago, to a loss of 1 cent today.
Current Year Estimates for REI
Meanwhile, Ring Energy's current year figures are also looking quite promising, with 4 estimates moving higher in the past month, compared to 2 lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 5 cents per share 30 days ago to a loss of 3 cents today.
The stock has also started to move higher lately, adding 16.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.
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