Shares of Ring Energy Inc (NYSEAMERICAN:REI) have earned an average recommendation of “Buy” from the six brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $3.08.
Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Ring Energy from a “hold” rating to a “buy” rating and set a $2.50 price objective on the stock in a report on Wednesday, December 18th. Northland Securities set a $2.80 price objective on shares of Ring Energy and gave the stock a “buy” rating in a report on Monday, October 21st.
Large investors have recently added to or reduced their stakes in the business. Sheaff Brock Investment Advisors LLC boosted its position in Ring Energy by 106.4% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 45,400 shares of the company’s stock valued at $74,000 after buying an additional 23,400 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Ring Energy by 124.9% in the third quarter. State of Alaska Department of Revenue now owns 45,913 shares of the company’s stock valued at $75,000 after buying an additional 25,495 shares in the last quarter. Jane Street Group LLC acquired a new position in Ring Energy in the second quarter valued at about $88,000. Jefferies Group LLC acquired a new position in Ring Energy in the second quarter valued at about $161,000. Finally, Marshall Wace LLP acquired a new position in Ring Energy in the first quarter valued at about $208,000.
Shares of REI opened at $2.70 on Friday. Ring Energy has a one year low of $1.23 and a one year high of $6.59. The stock has a fifty day moving average price of $1.65.
Ring Energy (NYSEAMERICAN:REI) last announced its earnings results on Wednesday, November 6th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. The firm had revenue of $50.34 million during the quarter, compared to the consensus estimate of $48.63 million.
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, 2018, the company's proved reserves consisted of approximately 36.6 million barrel of oil equivalent. As of the above date, it also had interests in 17,408 net developed acres and 58,620 net undeveloped acres in Andrews and Gaines counties; and 19,138 net developed acres and 860 net undeveloped acres in Culberson and Reeves counties.
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