Ring Energy (NYSE:REI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Ring Energy, Inc. is engaged in the exploration and development of oil and gas. The company operates primarily in Texas and Kansas. Ring Energy, Inc. is based in TULSA, United States. “

Other equities analysts also recently issued research reports about the stock. Imperial Capital began coverage on shares of Ring Energy in a research note on Tuesday, September 27th. They set an “outperform” rating and a $13.50 price target for the company. Roth Capital reaffirmed a “buy” rating on shares of Ring Energy in a research note on Tuesday, July 12th. Robert W. Baird reaffirmed a “neutral” rating and set a $24.00 price target on shares of Ring Energy in a research note on Monday, August 29th. Finally, Rodman & Renshaw began coverage on shares of Ring Energy in a research note on Monday, August 29th. They set a “buy” rating and a $15.00 price target for the company. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $12.56.

Analyst Recommendations for Ring Energy (NYSE:REI)

Ring Energy (NYSE:REI) opened at 10.79 on Wednesday. The firm’s market capitalization is $452.28 million. The company has a 50-day moving average of $10.55 and a 200-day moving average of $8.68. Ring Energy has a 52 week low of $4.00 and a 52 week high of $11.80.

A number of institutional investors have recently modified their holdings of the stock. Investors Capital Advisory Services boosted its position in shares of Ring Energy by 24.3% in the second quarter. Investors Capital Advisory Services now owns 329,413 shares of the company’s stock valued at $2,905,000 after buying an additional 64,500 shares in the last quarter. DUPONT CAPITAL MANAGEMENT Corp bought a new position in Ring Energy during the second quarter worth approximately $531,000. California State Teachers Retirement System boosted its position in Ring Energy by 45.5% in the second quarter. California State Teachers Retirement System now owns 74,981 shares of the company’s stock worth $661,000 after buying an additional 23,432 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Ring Energy by 37.0% in the second quarter. Bank of New York Mellon Corp now owns 111,855 shares of the company’s stock worth $986,000 after buying an additional 30,224 shares in the last quarter. Finally, Northpointe Capital LLC bought a new position in Ring Energy during the second quarter worth approximately $1,948,000.

5 Day Chart for NYSE:REI

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