Ring Energy (NYSE:REI)‘s stock had its “buy” rating restated by analysts at Canaccord Genuity in a report released on Monday. They presently have a $14.00 price objective on the stock. Canaccord Genuity’s target price would indicate a potential upside of 18.85% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. Imperial Capital started coverage on Ring Energy in a report on Tuesday, September 27th. They set an “outperform” rating and a $13.50 price target for the company. Robert W. Baird reaffirmed a “neutral” rating and set a $24.00 price target on shares of Ring Energy in a report on Monday, August 29th. Rodman & Renshaw started coverage on Ring Energy in a report on Monday, August 29th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Zacks Investment Research downgraded Ring Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 19th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $12.78.

Analyst Recommendations for Ring Energy (NYSE:REI)

Ring Energy (NYSE:REI) traded up 0.51% during midday trading on Monday, hitting $11.84. 14,749 shares of the stock were exchanged. Ring Energy has a one year low of $4.00 and a one year high of $12.17. The stock’s market cap is $496.30 million. The firm has a 50-day moving average price of $10.64 and a 200-day moving average price of $9.21.

Ring Energy (NYSE:REI) last announced its earnings results on Tuesday, November 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The business had revenue of $7.82 million for the quarter, compared to analysts’ expectations of $7.99 million. On average, equities research analysts anticipate that Ring Energy will post ($0.04) EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in Ring Energy by 264.2% in the second quarter. FMR LLC now owns 1,624,548 shares of the company’s stock valued at $14,329,000 after buying an additional 1,178,548 shares during the period. Cannell Capital LLC increased its position in Ring Energy by 60.8% in the second quarter. Cannell Capital LLC now owns 1,673,844 shares of the company’s stock valued at $14,763,000 after buying an additional 632,855 shares during the period. Vanguard Group Inc. increased its position in Ring Energy by 35.9% in the second quarter. Vanguard Group Inc. now owns 1,637,131 shares of the company’s stock valued at $14,439,000 after buying an additional 432,788 shares during the period. GLG Partners LP increased its position in Ring Energy by 69.2% in the second quarter. GLG Partners LP now owns 1,057,764 shares of the company’s stock valued at $9,330,000 after buying an additional 432,779 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in Ring Energy by 142.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 727,153 shares of the company’s stock valued at $6,413,000 after buying an additional 426,794 shares during the period.

5 Day Chart for NYSE:REI

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