Ring Energy (REI) Up More Than 48.5% Since FQ2 2025 Results, Wall Street Bullish

Ring Energy, Inc. (NYSE AMERICAN:REI) is one of the Cheap Energy Stocks to Buy Under $5. Ring Energy, Inc. (NYSE AMERICAN:REI) posted mixed results for its fiscal second quarter of 2025 on August 6. However, the stock is up more than 48.5% since the release. Wall Street is also bullish on the stock.

Ring Energy, Inc. (NYSE AMERICAN:REI) posted a revenue of $82.60 million for the quarter, reflecting a 16.68% decrease year-over-year and below expectations by $265,910. On the bright side, the EPS of $0.05 topped Wall Street estimates by $0.02. After the release, on August 11, Michael Markidis from BMO Capital raised the firm’s price target from C$19 to C$20, with a Buy rating. More recently, on August 12, Pammir Bir from RBC Capital also reiterated a Buy rating on the stock with a price target of C$21.

Ring Energy, Inc. (NYSE AMERICAN:REI) also announced its third-quarter debt reduction targets. The company aims to reduce its debt by approximately $18 million during the third quarter.

Ring Energy, Inc. (NYSE AMERICAN:REI) is an independent oil and gas company focused on exploration, development, and production in the Permian Basin of Texas.

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Disclosure: None. This article is originally published at Insider Monkey.