Ring Energy (REI) Given Outperform Rating at Ifs Securities

Ring Energy (NYSEAMERICAN:REI)‘s stock had its “outperform” rating reaffirmed by research analysts at Ifs Securities in a research report issued on Monday, The Fly reports.

Several other equities research analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Ring Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Imperial Capital set a $15.00 price objective on shares of Ring Energy and gave the stock an “outperform” rating in a report on Thursday, October 4th. Finally, Seaport Global Securities lowered shares of Ring Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $20.00 to $12.00 in a report on Tuesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $17.89.

Ring Energy stock opened at $7.35 on Monday. Ring Energy has a 12-month low of $6.75 and a 12-month high of $17.35.

Ring Energy (NYSEAMERICAN:REI) last released its quarterly earnings results on Wednesday, August 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.04). The company had revenue of $29.93 million for the quarter, compared to analysts’ expectations of $30.05 million.

In other news, CEO Kelly W. Hoffman sold 90,375 shares of Ring Energy stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $11.31, for a total value of $1,022,141.25. Following the completion of the transaction, the chief executive officer now directly owns 117,546 shares of the company’s stock, valued at approximately $1,329,445.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stanley Myron Mccabe sold 100,000 shares of Ring Energy stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $11.23, for a total transaction of $1,123,000.00. Following the completion of the transaction, the director now directly owns 1,720,634 shares of the company’s stock, valued at $19,322,719.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 370,375 shares of company stock valued at $4,183,691.

Several hedge funds and other institutional investors have recently bought and sold shares of REI. Neuburgh Advisers LLC boosted its stake in Ring Energy by 103.5% during the 2nd quarter. Neuburgh Advisers LLC now owns 9,962 shares of the company’s stock valued at $126,000 after purchasing an additional 5,066 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Ring Energy during the 2nd quarter valued at about $145,000. CIBC World Markets Inc. acquired a new position in Ring Energy during the 2nd quarter valued at about $151,000. Jane Street Group LLC acquired a new position in Ring Energy during the 2nd quarter valued at about $165,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Ring Energy during the 1st quarter valued at about $170,000.

Ring Energy Company Profile

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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