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Fly News Breaks for December 20, 2018
REI
Dec 20, 2018 | 05:25 EDT
Imperial Capital analyst Jason Wangler lowered his price target for Ring Energy to $8 following the company's Q4 update and initial 2019 outlook. Ring lowered its Q4 production guidance based on completion delays on new wells and is shifting from a two-rig program to a one-rig program in 2019 in response to the decline in oil prices in order to focus on cash flow neutrality, Wangler tells investors in a research note. With his price target 70% above the current share price, the analyst keeps an Outperform rating on Ring Energy.
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