Ring Energy Inc (NYSEAMERICAN:REI) has been given a consensus recommendation of “Buy” by the nine research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $19.33.
REI has been the topic of several recent research reports. Northland Securities set a $18.00 price objective on Ring Energy and gave the company a “buy” rating in a research report on Monday, December 11th. KLR Group initiated coverage on Ring Energy in a research report on Thursday, December 21st. They issued a “buy” rating and a $20.00 price objective on the stock. B. Riley initiated coverage on Ring Energy in a research report on Monday, February 5th. They issued a “buy” rating and a $22.00 price objective on the stock. SunTrust Banks restated a “buy” rating and issued a $19.00 price objective on shares of Ring Energy in a research report on Friday, November 10th. Finally, 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.
Shares of Ring Energy (NYSEAMERICAN REI) opened at $15.14 on Friday. The company has a market capitalization of $833.23, a price-to-earnings ratio of 137.64 and a beta of 0.23. Ring Energy has a 12-month low of $9.22 and a 12-month high of $15.95.
In related news, Director Rochford Living Trust Lloyd Ti sold 86,486 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $14.81, for a total value of $1,280,857.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel D. Wilson sold 50,000 shares of the company’s stock in a transaction on 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. Insiders sold 262,724 shares of company stock valued at $3,727,430 over the last quarter.
Large investors have recently made changes to their positions in the business. Teacher Retirement System of Texas acquired a new stake in Ring Energy during the fourth quarter worth about $238,000. UBS Asset Management Americas Inc. increased its stake in Ring Energy by 73.1% during the fourth 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 last quarter. Ninepoint Partners LP acquired a new stake in Ring Energy during the fourth quarter worth about $1,119,000. Perkins Capital Management Inc. increased its stake in Ring Energy by 767.3% during the fourth quarter. Perkins Capital Management Inc. now owns 86,725 shares of the company’s stock worth $1,205,000 after acquiring an additional 76,725 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Ring Energy by 7.0% during the fourth 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 last quarter.
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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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