US Natural Gas Prices Rise To 5-Month Highs On Hot Weather Forecasts: Energy Stocks On The Move Monday
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 10 2024
0mins
Source: Benzinga
- Natural Gas Futures Surge: Prompt-month natural gas futures surpassed $3 per million British thermal units, the highest since mid-January 2024, driven by forecasts of increased cooling demand due to anticipated warm weather in June.
- Price Increase and Market Trends: Natural gas prices rose by 12.8% last week, eyeing the seventh week of gains out of the last eight, with a four-day winning streak.
- Weather Impact on Demand: NatGasWeather predicts above-average temperatures across the U.S., leading to stronger-than-normal demand for natural gas.
- Storage Surpluses Decrease: Anticipated trend may reduce natural gas storage surpluses to around 450 billion cubic feet by the end of the month.
- Market Performance: Companies in the natural gas market outperformed oil-related stocks, with notable increases in stock prices for various companies and funds.
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Analyst Views on REI
About REI
Ring Energy, Inc. is an oil and gas exploration, development, and production company. The Company is focused on the development of its Permian Basin assets. Its primary drilling operations target the oil and liquids-rich producing formations in the Northwest Shelf and the Central Basin Platform (CBP), in the Permian Basin in Texas. Its Lime Rock’s CBP operations are located in the Permian Basin and are focused on the development of approximately 17,700 net acres. The Company's leasehold acreage positions total approximately 97,599 gross (80,919 net) acres, and it holds interests in approximately 935 gross (763 net) producing wells. All of its properties are located in the Permian Basin and its proved reserves are oil-weighted, with approximately 60% consisting of oil, 19% consisting of natural gas, and 21% consisting of natural gas liquids. Of those reserves, approximately 69% of the reserves are classified as proved developed and 31% are classified as proved undeveloped.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Industry Background: While at Raymond James as Co-Head of Energy Investment Banking, Johl successfully advised multiple public and private E&P companies, particularly in the Permian Basin, showcasing his deep expertise in capital markets.
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See More
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- Industry Background: While at Raymond James as Co-Head of Energy Investment Banking, Johl successfully advised multiple public and private E&P companies, particularly in the Permian Basin, showcasing his deep expertise in capital markets.
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See More
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- Debt Reduction Target: The company aims to achieve a $10 million debt reduction target in Q4 2025, leveraging cost optimization strategies to enhance its financial health and bolster future investment capabilities.
- Borrowing Base Reaffirmation: Ring Energy has reaffirmed its borrowing base under its credit facility, ensuring stable liquidity for future financial operations, which supports ongoing business development and expansion plans.
- Cost Savings Strategy: The company is benefiting from lower third-party costs, which is expected to further enhance profitability and cash flow, strengthening its position in the competitive energy market.
See More
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- Financial Results Announcement: RioCan is set to release its financial and operational results for the year ended December 31, 2025, after market close on February 17, 2026, ensuring timely access to critical information for investors.
- Conference Call Invitation: Management will host a conference call on February 18, 2026, at 10:00 a.m. Eastern Time, providing a direct interaction opportunity with investors to enhance transparency and communication efficiency.
- Simplified Participation: Participants can pre-register to receive dial-in credentials, ensuring smooth access to the call, which reflects the company's commitment to improving investor experience.
- Replay Service Available: Investors unable to attend live can access a replay for one week post-conference, ensuring widespread dissemination of information and ongoing investor relations maintenance.
See More
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Focus on Ring Energy, Inc.: The fund highlighted Ring Energy, Inc. (AMEX:REI), an oil and gas exploration company, which saw a significant decline in its stock price and was liquidated from the fund due to a weakening energy market outlook.
Hedge Fund Interest: Ring Energy, Inc. was held by 15 hedge fund portfolios at the end of Q3 2025, a decrease from 20 in the previous quarter, indicating reduced interest among hedge funds.
Shift to AI Investments: The fund expressed a preference for certain AI stocks over Ring Energy, citing greater upside potential and lower downside risk, and encouraged readers to explore their report on undervalued AI stocks.
See More
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- Distribution Announcement: RioCan has declared a distribution of 9.65 cents per unit for December 2025, payable on January 8, 2026, which reflects the company's ongoing cash flow stability and helps bolster investor confidence.
- Record Holders: The distribution will be paid to unitholders of record as of December 31, 2025, ensuring investor return expectations are met and further solidifying trust between the company and its investors.
- Portfolio Scale: As of September 30, 2025, RioCan's portfolio consists of 173 properties with a total net leasable area of approximately 32 million square feet, highlighting its market position in meeting the everyday shopping needs of Canadians.
- Strategic Development: RioCan focuses on the ownership, management, and development of necessity-based and mixed-use properties, indicating the company's commitment to providing quality services in densely populated communities to address evolving consumer demands.
See More
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- Market Dialogue: Ring Energy will participate in a fireside chat with Water Tower Research on December 9, 2025, discussing the company's strategies in navigating a volatile global oil market, which is expected to attract investor interest.
- Asset Performance: The assets acquired from Lime Rock at the end of Q1 2025 have demonstrated solid operational and cost performance, indicating the company's strong asset management capabilities in an uncertain market environment.
- Capital Budget Planning: Ring is constructing its 2026 capital budget aimed at reducing leverage across various oil price scenarios, thereby enhancing the company's financial stability and risk resilience.
- Future Development Potential: The company is identifying future development inventory on its existing asset base, which will support long-term growth and ensure a competitive edge in the challenging oil and gas market.
See More
