B. Riley started coverage on shares of Ring Energy (NYSEAMERICAN:REI) in a research report released on Monday, February 5th, MarketBeat Ratings reports. The firm issued a buy rating and a $22.00 price target on the stock. B. Riley also issued estimates for Ring Energy’s Q4 2017 earnings at $0.09 EPS, FY2017 earnings at $0.21 EPS, Q1 2018 earnings at $0.20 EPS, Q2 2018 earnings at $0.24 EPS, Q3 2018 earnings at $0.30 EPS, Q4 2018 earnings at $0.39 EPS, FY2018 earnings at $1.14 EPS, Q1 2019 earnings at $0.49 EPS, Q2 2019 earnings at $0.57 EPS, Q3 2019 earnings at $0.64 EPS, Q4 2019 earnings at $0.70 EPS and FY2019 earnings at $2.41 EPS.
A number of other research analysts have also recently issued reports on the company. Zacks Investment Research cut Ring Energy from a strong-buy rating to a hold rating in a report on Saturday, January 13th. Roth Capital set a $22.00 price objective on Ring Energy and gave the company a buy rating in a research report on Tuesday, January 16th. KLR Group initiated coverage on Ring Energy in a research report on Thursday, January 11th. They issued a buy rating for the company. SunTrust Banks reaffirmed a buy rating and set a $19.00 price target on shares of Ring Energy in a research report on Friday, November 10th. Finally, Northland Securities set a $18.00 price target on Ring Energy and gave the stock a buy rating in a research report on Monday, December 11th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Ring Energy currently has an average rating of Buy and a consensus price target of $19.00.
Ring Energy (REI) opened at $15.24 on Monday. Ring Energy has a 52-week low of $9.22 and a 52-week high of $15.95. The firm has a market cap of $833.23, a P/E ratio of 138.55 and a beta of 0.23.
In other Ring Energy news, CFO William Randall Broaddrick sold 75,000 shares of the stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $14.02, for a total value of $1,051,500.00. Following the completion of the transaction, the chief financial officer now directly owns 50,000 shares in the company, valued at $701,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel D. Wilson sold 50,000 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $13.77, for a total value of $688,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 262,724 shares of company stock worth $3,727,430.
Institutional investors have recently made changes to their positions in the business. Teacher Retirement System of Texas acquired a new stake in Ring Energy in the fourth quarter valued at approximately $238,000. UBS Asset Management Americas Inc. boosted its position in shares of Ring Energy by 73.1% during the fourth quarter. UBS Asset Management Americas Inc. now owns 17,995 shares of the company’s stock valued at $250,000 after buying an additional 7,600 shares during the last quarter. Invictus RG purchased a new position in shares of Ring Energy during the fourth quarter valued at approximately $257,000. Ninepoint Partners LP purchased a new position in shares of Ring Energy during the fourth quarter valued at approximately $1,119,000. Finally, Perkins Capital Management Inc. boosted its position in shares of Ring Energy by 767.3% during the fourth quarter. Perkins Capital Management Inc. now owns 86,725 shares of the company’s stock valued at $1,205,000 after buying an additional 76,725 shares during the last 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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