Roth Capital set a $22.00 target price on Ring Energy (NYSEAMERICAN:REI) in a research note issued to investors on Tuesday morning. The brokerage currently has a buy rating on the stock.
A number of other equities research analysts have also recently commented on REI. Northland Securities set a $20.00 target price on Ring Energy and gave the stock a buy rating in a research note on Saturday, October 21st. SunTrust Banks reissued a buy rating and issued a $19.00 target price on shares of Ring Energy in a research note on Friday, November 10th. KLR Group initiated coverage on Ring Energy in a research report on Thursday, December 21st. They set a buy rating and a $20.00 price objective on the stock. Finally, Zacks Investment Research raised Ring Energy from a hold rating to a strong-buy rating and set a $16.00 price objective on the stock in a research report on Thursday, January 11th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Ring Energy has an average rating of Buy and an average price target of $18.57.
Ring Energy (REI) traded down $0.47 during midday trading on Tuesday, hitting $15.08. The stock had a trading volume of 453,900 shares, compared to its average volume of 459,425. Ring Energy has a 52-week low of $9.22 and a 52-week high of $15.95. The stock has a market capitalization of $850.31, a PE ratio of 137.09 and a beta of 0.79.
Ring Energy (NYSEAMERICAN:REI) last released its earnings results on Wednesday, November 8th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Ring Energy had a return on equity of 3.75% and a net margin of 18.47%.
In other Ring Energy news, insider Daniel D. Wilson sold 50,000 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $13.77, for a total value of $688,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Rochford Living Trust Lloyd Ti sold 86,486 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $14.81, for a total value of $1,280,857.66. The disclosure for this sale can be found here. Insiders have sold 262,724 shares of company stock worth $3,727,430 over the last ninety days.
An institutional investor recently raised its position in Ring Energy stock. Dalton Greiner Hartman Maher & Co. raised its position in Ring Energy Inc (NYSEAMERICAN:REI) by 44.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 242,973 shares of the company’s stock after acquiring an additional 75,194 shares during the quarter. Dalton Greiner Hartman Maher & Co. owned approximately 0.45% of Ring Energy worth $3,377,000 at the end of the most recent quarter.
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Ring Energy Company Profile
Ring Energy, Inc (Ring) is an exploration and production company that is engaged in oil and natural gas acquisition, exploration, development and production activities. The Company’s exploration and production interests are focused on Texas and Kansas. Its operations are all oil and gas exploration and production related activities in the United States.
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