Roth Capital Analysts Give Ring Energy (REI) a $20.00 Price Target
Several other research analysts have also recently weighed in on REI. Zacks Investment Research cut shares of Ring Energy from a hold rating to a sell rating in a research report on Wednesday, July 12th. Northland Securities set a $20.00 target price on shares of Ring Energy and gave the company a buy rating in a research report on Monday, August 14th. Finally, Imperial Capital assumed coverage on shares of Ring Energy in a research report on Tuesday, August 15th. They issued an outperform rating and a $18.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $17.88.
Shares of Ring Energy (NYSE:REI) opened at 12.57 on Wednesday. Ring Energy has a 12-month low of $8.76 and a 12-month high of $14.14. The stock’s 50 day moving average is $12.89 and its 200-day moving average is $12.29. The company’s market capitalization is $680.60 million.
Ring Energy (NYSE:REI) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The firm had revenue of $14.50 million for the quarter, compared to analyst estimates of $14.20 million. Analysts anticipate that Ring Energy will post $0.19 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: “Roth Capital Analysts Give Ring Energy (REI) a $20.00 Price Target” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this news story on another website, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2017/08/26/roth-capital-analysts-give-ring-energy-rei-a-20-00-price-target.html.
A number of hedge funds have recently modified their holdings of the company. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Ring Energy during the first quarter worth about $126,000. Marshall Wace North America L.P. acquired a new stake in shares of Ring Energy during the first quarter worth about $126,000. Legal & General Group Plc raised its stake in shares of Ring Energy by 4.9% in the second quarter. Legal & General Group Plc now owns 9,869 shares of the company’s stock worth $128,000 after buying an additional 463 shares during the period. UBS Asset Management Americas Inc. acquired a new stake in shares of Ring Energy during the second quarter worth about $135,000. Finally, Greenwood Capital Associates LLC raised its stake in shares of Ring Energy by 5.3% in the first quarter. Greenwood Capital Associates LLC now owns 13,741 shares of the company’s stock worth $149,000 after buying an additional 695 shares during the period.
About Ring Energy
Ring Energy, Inc acquires, explores for, develops, and produces oil and natural gas in Texas and Kansas, the United States. As of December 31, 2016, its proved reserves consisted of approximately 27.7 million barrel of oil equivalent. The company also owns interests in 32,663 net developed and undeveloped acres in Andrews and Gaines counties, and 20,490 net developed and undeveloped acres in Reeves and Culberson counties, Texas; and 14,549 net developed and undeveloped acres in Kansas.
Receive News & Stock Ratings for Ring Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ring Energy and related stocks with our FREE daily email newsletter.