Shares of Ring Energy Inc (NYSEAMERICAN:REI) have earned an average recommendation of “Buy” from the nine analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $19.00.
A number of analysts have recently commented on the company. Northland Securities set a $18.00 price objective on Ring Energy and gave the stock a “buy” rating in a research note on Monday, December 11th. KLR Group assumed coverage on Ring Energy in a research note on Thursday, January 11th. They issued a “buy” rating on the stock. B. Riley assumed coverage on Ring Energy in a research note on Monday, February 5th. They issued a “buy” rating and a $22.00 price objective on the stock. Roth Capital set a $22.00 price objective on Ring Energy and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Finally, Zacks Investment Research downgraded Ring Energy from a “strong-buy” rating to a “hold” rating in a research note on Saturday, January 13th.
In other Ring Energy news, CFO William Randall Broaddrick sold 75,000 shares of the business’s 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 transaction, the chief financial officer now owns 50,000 shares in the company, valued at $701,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. lifted its position in shares of Ring Energy by 73.1% during the 4th quarter. UBS Asset Management Americas Inc. now owns 17,995 shares of the company’s stock worth $250,000 after purchasing an additional 7,600 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Ring Energy by 7.0% during the 4th quarter. Victory Capital Management Inc. now owns 132,282 shares of the company’s stock worth $1,839,000 after purchasing an additional 8,620 shares during the last quarter. Ranger Investment Management L.P. lifted its position in shares of Ring Energy by 6.8% during the 4th quarter. Ranger Investment Management L.P. now owns 179,625 shares of the company’s stock worth $2,497,000 after purchasing an additional 11,490 shares during the last quarter. Jefferies Group LLC acquired a new position in shares of Ring Energy during the 4th quarter worth about $229,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Ring Energy during the 4th quarter worth about $238,000.
Shares of Ring Energy (NYSEAMERICAN REI) traded up $0.06 during mid-day trading on Wednesday, reaching $14.06. The company’s stock had a trading volume of 196,215 shares, compared to its average volume of 895,564. Ring Energy has a one year low of $9.22 and a one year high of $16.09. The firm has a market cap of $765.35, a price-to-earnings ratio of 127.36 and a beta of 0.27.
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About Ring Energy
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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