Stephens reissued their buy rating on shares of Ring Energy (NYSEAMERICAN:REI) in a research note released on Tuesday. Stephens currently has a $19.00 price objective on the stock.
Other research analysts also recently issued research reports about the stock. KLR Group started coverage on shares of Ring Energy in a report on Thursday, January 11th. They set a buy rating on the stock. B. Riley set a $20.00 price target on shares of Ring Energy and gave the company a buy rating in a report on Tuesday, March 20th. Roth Capital set a $22.00 price target on shares of Ring Energy and gave the company a buy rating in a report on Tuesday, January 16th. Finally, Zacks Investment Research downgraded shares of Ring Energy from a strong-buy rating to a hold rating in a report on Saturday, January 13th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $19.00.
Ring Energy stock opened at $15.98 on Tuesday. Ring Energy has a 1-year low of $10.88 and a 1-year high of $17.10.
Ring Energy (NYSEAMERICAN:REI) last released its quarterly earnings results on Thursday, March 15th. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. The business had revenue of $23.31 million for the quarter, compared to the consensus estimate of $21.32 million. Ring Energy had a net margin of 18.47% and a return on equity of 3.75%.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. UBS Asset Management Americas Inc. raised its holdings in Ring Energy by 73.1% in the 4th quarter. UBS Asset Management Americas Inc. now owns 17,995 shares of the company’s stock worth $250,000 after acquiring an additional 7,600 shares during the period. Victory Capital Management Inc. raised its holdings in Ring Energy by 7.0% in the 4th quarter. Victory Capital Management Inc. now owns 132,282 shares of the company’s stock worth $1,839,000 after acquiring an additional 8,620 shares during the period. Ranger Investment Management L.P. raised its holdings in Ring Energy by 6.8% in the 4th quarter. Ranger Investment Management L.P. now owns 179,625 shares of the company’s stock worth $2,497,000 after acquiring an additional 11,490 shares during the period. Jefferies Group LLC bought a new position in Ring Energy in the 4th quarter worth $229,000. Finally, Teacher Retirement System of Texas bought a new position in Ring Energy in the 4th quarter worth $238,000.
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About Ring Energy
Ring Energy, Inc, an exploration and production company, acquires, explores for, develops, and produces oil and natural gas in Texas, the United States. As of December 31, 2017, the company's proved reserves consisted of approximately 31.9 million barrel of oil equivalent. As of the above date, it also had interests in 8,102 net developed acres and 61,772 net undeveloped acres in Andrews and Gaines counties; and 10,235 net developed acres and 9,682 net undeveloped acres in Culberson and Reeves counties.
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