Ring Energy (NYSE:REI) was the recipient of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 3,675,275 shares, a decrease of 0.8% from the October 31st total of 3,706,311 shares. Based on an average daily volume of 253,884 shares, the days-to-cover ratio is presently 14.5 days. Currently, 10.5% of the company’s shares are sold short.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Ring Energy by 5.5% in the third quarter. BlackRock Inc. now owns 9,337 shares of the company’s stock valued at $102,000 after buying an additional 486 shares during the last quarter. California State Teachers Retirement System raised its position in Ring Energy by 0.8% in the third quarter. California State Teachers Retirement System now owns 75,581 shares of the company’s stock valued at $828,000 after buying an additional 600 shares during the last quarter. Rhumbline Advisers raised its position in Ring Energy by 1.7% in the third quarter. Rhumbline Advisers now owns 38,692 shares of the company’s stock valued at $424,000 after buying an additional 660 shares during the last quarter. Morgan Stanley raised its position in Ring Energy by 6.1% in the third quarter. Morgan Stanley now owns 26,575 shares of the company’s stock valued at $291,000 after buying an additional 1,524 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Ring Energy by 25.0% in the third quarter. Wells Fargo & Company MN now owns 13,073 shares of the company’s stock valued at $143,000 after buying an additional 2,613 shares during the last quarter.

Ring Energy (NYSE:REI) opened at 13.36 on Friday. The company’s 50 day moving average price is $11.07 and its 200-day moving average price is $9.58. The company’s market cap is $560.01 million. Ring Energy has a one year low of $4.00 and a one year high of $13.45.

Ring Energy (NYSE:REI) last released its quarterly earnings results on Tuesday, November 8th. The company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The company earned $7.82 million during the quarter, compared to the consensus estimate of $7.99 million. On average, analysts forecast that Ring Energy will post $0.02 EPS for the current fiscal year.

A number of analysts have recently weighed in on the company. Canaccord Genuity reissued a “buy” rating and set a $14.00 price objective on shares of Ring Energy in a research note on Monday, November 14th. Zacks Investment Research lowered Ring Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, October 19th. Imperial Capital assumed coverage on Ring Energy in a research note on Tuesday, September 27th. They set an “outperform” rating and a $13.50 price objective for the company. Robert W. Baird reissued a “neutral” rating and set a $24.00 price objective on shares of Ring Energy in a research note on Monday, August 29th. Finally, Rodman & Renshaw assumed coverage on Ring Energy in a research note on Monday, August 29th. They set a “buy” rating and a $15.00 price objective 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 stock has a consensus rating of “Buy” and an average price target of $12.78.

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