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Tag: REI

  • Ring Energy Inc. (REI) stock Bullish After Hours on New Developments and Increased Guidance

    Following the company’s updates and increased guidance announcement, Ring Energy Inc. (REI) stock became bullish in the after hours. Hence, the stock gained 5.66% at $2.24 in the after-hours on December 16.

    In regular trading, the stock traded in the red, losing 1.40% at the closing value of $2.12 with 1.19M shares. Following the new announcement, REI stock gained $0.12 in the after-hours.

    Currently, the oil and gas exploration company has a market capitalization of $214.23 million. Moreover, REI has 99.64 million shares outstanding in the market as of now.

    REI’s Updates

    On December 16, the company provided the updates of its 2021 drilling program with the outlook for the 2022 drilling program. As per the report, REI successfully completed the 2021 development campaign. The company drilled 11 wells which include Northwest Shelf (NWS)’s eight wells and Central Basin Platform (CBP)’S three. Furthermore, 13 wells were completed (NWS 10 and CBP 3). According to CEO, Paul D. McKinney, the 2021 drilling generated a free cash flow of $11 million. Moreover, it also helped to pay down the debt of $18 million in the first nine months of 2021.

    In addition, the company will commence a continuous one-rig drilling program in the first quarter of 2022.  Moreover, this drilling program will continue throughout 2022.

    Increased Guidance for Q4

    Due to the robust production performance of Phase III & IV programs, REI increased its fourth-quarter 2021, guidance. The four wells in Phase III and two included in Phase IV showed strong performance in October and November of this year. As per the increased sales guidance, the company expects 9,000 to 9,300 barrels of oil equivalent per day (Boepd).

    Moreover, the company expects to capitalize on the continued strong oil pricing in 2022, based on the success of Phase III and IV programs.

    Q3 2021 Earnings

    On November 09, REI declared its third-quarter financial results for 2021 which ended on September 30, 2021. As per the third quarter of 2021, the company generated an adjusted net income of $6.8 million. Consequently, the adjusted net income per diluted share was $0.07 in the Q3 of 2021.

    Moreover, the adjusted EBITDA for the third quarter of 2021, was $19.7 million.

    Further, in the third quarter of 2021, the net cash from operating activities was $17.5 million and the free cash flow was $2.6 million.

  • Three Best Epicenter Stocks to Watch for in the First Half of 2021

    Three Best Epicenter Stocks to Watch for in the First Half of 2021

    There are several companies that lie around the re-emergence point.

    The COVID-19 pandemic has been one of the hardest hits on the global economy. The epicenter stocks are the companies badly affected by the pandemic but are on the verge to bounce back following the economic stability.

    As we are heading forward, things seem to get going as the pandemic has become part of our lives. Moreover, with the vaccine deployment and gradual decline in cases, there are stocks that are expecting to end 2021 with profit following heavy losses in 2019.

    The current bull argument is that top epicenter stocks could be looking at the biggest recoveries once the pandemic comes to an end. So, let’s have a look at the potential investment options among the epicenter stocks.

    Royal Caribbean Group (RCL)

    Royal Caribbean Group (RCL) is being called one of the top epicenter stocks bucking the trend when the market goes south. The largest cruise line company world-wide and the second-largest by passengers, RCL gathers over 14% in revenue of the entire cruise line market and 19% by passengers. With the strong basis and good post-COVID-19 track, analysts believe that RCL has the big guns to pump one the pandemic ends.

    The shares of RCL stock have been on the bullish side during February. Of course, the rise in shares price wasn’t based on the quarterly results, which were on the negative side. The company reported a loss of $1.4 billion in the most recent quarter.

    The company is aiming for a comeback and the RCL is foreseeing good times ahead.

    Komos Energy (KOS)

    Another company that lies in the epicenter stocks is Komos Energy (KOS). Kosmos is a leading deepwater exploration and production company focused on meeting the world’s growing demand for energy. With the energy department getting more focus during the Biden reign is expected to help Komos have a bullish run post-pandemic.

    The company has been on the downward for a while now. The CEO of Komos in the Q4 report said that with the strategic actions they took in 2020, in 2021 they would have a lower cost base which will strengthen its balance sheet.

    Komos Energy (KOS) is trading just above $3 per share and there are chances that it would drop further before going for the extreme bullish run. So, investors must keep their eyes on the stock and buy at its lowest.

    Ring Energy (REI)

    Another energy firm, Ring Energy (REI) that focuses on oil and gas exploration. The company has been brutally impacted by the pandemic.

    The company recently updated its plan for this year and how operations unfolded during the last quarter. Ring produced 9,307 net barrels of oil equivalent per day last quarter. While the company expects to drill 6-8 wells and complete 8-10 wells in 2021.

    For this year, the company is working on a new strategy and has a disciplined capital program. Ring Energy’s new capital program would be funded by operational cash flow, which will help in maintaining production levels with the potential for some minimal growth. The bottom line is that REI is working to improve its balance sheet and get things right for the long-term.

  • Early Morning Vibes: 4 Stocks We Like for Thursday

    Early Morning Vibes: 4 Stocks We Like for Thursday

    These are turbulent times in America. Trump supporters swept into the Capitol, the seat of Washington’s representatives. Things got so bad in the capital of the United States that Donald Trump’s social media accounts were suspended by Twitter and Facebook. In an initial reaction, the American indices fell. But these seem to have recovered significantly this morning. The reason for the event is a possible blue wave as the Democrats seem to be bringing in the Senate. In this way Biden will be able to fulfill much more of his political agenda. Deutsche Bank has already announced that they expect additional stimulus from this victory. The German bank expects that the additional support package for the coming year could be between $ 750 billion and $ 1 trillion. Good for US equities, bad for the value of the US dollar.

    Market Update

    Yesterday the S&P 500 rose 0.57% to close at 3,748 points. The Nasdaq 100 fell 1.40% to close at 12,623 points. Not a very good day for technology stocks. America’s oldest index, the Dow Jones, closed 1.44% in green at 30,829 points.

    Corporate News

    NVIDIA all set for takeover

    NVIDIA, the manufacturer of computer components, has made an offer of $ 40 billion for the technology company Arm. The latter is the UK’s most valuable technology company. NVIDIA has announced that they would like to keep the headquarters in the United Kingdom and fully focus on AI (artificial intelligence) via Arm. The British government has already announced that they want guarantees about permanent employment. Furthermore, the CMA (Competition and Markets Authority) also has a leading role to play after Brexit. Previously, the wings of this UK institution had been cut short by European regulators. The CMA will consider whether this acquisition would create unfair competition and will reach a decision within 18 months at the earliest. The NVIDIA stock is listed on Nasdaq, falling 5.90% yesterday during regular trading time.

    Today Top Movers

    Plug Power Inc (PLUG) climbed about 19.91% ‎at $42.00 in pre-market trading Thursday after declaring partnership with SK Group to receive $1.5 billion investment. ‎

    Sos Ltd (SOS), a Medical Care Facilities company, share price soared 97.09% to $3.39 during early morning ‎trading session on Thursday following an announcement from the company that SOS has entered into employment agreement with Dr. Eric H. Yan, an expert in cryptocurrency mining, security and insurance technologies. ‎

    Guardion Health Sciences Inc (GHSI) stock ascended 17.94% at $0.77 in the pre-‎market trading today. ‎

    Future Fintech Group Inc (FTFT) gained over 55.95% at $.62 in pre-market ‎trading on Thursday.‎ The firm recently revealed that it has signed a term sheet with Blocknance Financial International SRL.

    Top Upgrades & Downgrades

    RBC Capital turned bullish on Tesla Inc. (TSLA), upgrading the stock to “Sector Perform” and assigning a $700.0 price target. 

    Wells Fargo & Company (WFC) has won the favor of Jefferies’s equity research team. The firm upgraded the shares from Hold to Buy and moved its price target to $38.0. 

    JPMorgan Chase & Co. (JPM) received an upgrade from analysts at Jefferies, who also set their one-year price target on the stock to $152.0. They changed their rating on JPM to Buy from Hold in a recently issued research note. 

    Earlier Thursday Jefferies reduced its rating on Air Products and Chemicals Inc. (APD) stock to Hold from Buy and assigned the price target to $324. 

    Jefferies analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for Aerojet Rocketdyne Holdings Inc. (AJRD) has been changed to Hold from Buy and the new price target is set at $56.0. 

    Analysts at Jefferies downgraded Kratos Defense & Security Solutions Inc. (KTOS)’s stock to Hold from Buy Thursday.

    Latest Insider Activity

    Yelp Inc. (YELP) Chief Executive Officer Stoppelman Jeremy announced the sale of shares taking place on Jan 04 at $29.98 for some 346,830 shares. The total came to more than $10.4 million. 

    The Charles Schwab Corporation (SCHW) Senior EVP Craig Jonathan M. sold on Jan 06 a total of 7,316 shares at $55.94 on average. The insider’s sale generated proceeds of almost $0.41 million. 

    Ring Energy Inc. (REI) 10% Owner Kruse William R declared the purchase of shares taking place on Dec 31 at $0.67 for some 619,898 shares. The transaction amount was around $0.41 million. 

    First Financial Bancorp. (FFBC) Director Rahe Maribeth S bought on Dec 31 a total 41,769 shares at $17.53 on average. The purchase cost the insider an estimated $12,499.

    Important Earnings

    Top US earnings releases scheduled for Monday include SYNNEX Corporation (NYSE: SNX). It will announce its Nov 2020 financial results. The company is expected to report earnings of $3.83 per share from revenues of $6.6B in the three-month period. 

    Analysts expect Limoneira Company (NASDAQ: LMNR) to report a net income (adjusted) of -$0.21 per share when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Oct 2020 is predicted to come in at $29.19M. 

    Concentrix Corporation (CNXC), due to announce earnings after the market closes Monday, is expected to report earnings of $1.98 per share from revenues of $1.24B recently concluded three-month period.