SunTrust Banks, Inc. reiterated their buy rating on shares of Ring Energy, Inc. (NYSE:REI) in a research note issued to investors on Friday morning. They currently have a $19.00 price objective on the stock.

A number of other equities research analysts have also weighed in on the stock. Northland Securities set a $20.00 target price on shares of Ring Energy and gave the company a buy rating in a research note on Saturday, October 21st. Roth Capital set a $20.00 target price on shares of Ring Energy and gave the company a buy rating in a research note on Friday, October 6th. Imperial Capital assumed coverage on shares of Ring Energy in a research note on Tuesday, August 15th. They set an outperform rating and a $18.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Ring Energy from a sell rating to a hold rating in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $18.67.

Shares of Ring Energy (NYSE REI) opened at $13.75 on Friday.

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Several hedge funds have recently modified their holdings of the company. Royal Bank of Canada grew its position in shares of Ring Energy by 12.9% during the 2nd quarter. Royal Bank of Canada now owns 3,749,444 shares of the company’s stock valued at $48,743,000 after acquiring an additional 428,570 shares during the period. Daruma Capital Management LLC grew its position in shares of Ring Energy by 1,661.2% during the 2nd quarter. Daruma Capital Management LLC now owns 2,232,367 shares of the company’s stock valued at $29,021,000 after acquiring an additional 2,105,611 shares during the period. Formula Growth Ltd. grew its position in shares of Ring Energy by 0.5% during the 2nd quarter. Formula Growth Ltd. now owns 2,088,804 shares of the company’s stock valued at $27,154,000 after acquiring an additional 10,840 shares during the period. Vanguard Group Inc. grew its position in shares of Ring Energy by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,991,090 shares of the company’s stock valued at $25,884,000 after acquiring an additional 77,632 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its position in shares of Ring Energy by 347.6% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,714,750 shares of the company’s stock valued at $24,847,000 after acquiring an additional 1,331,650 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.

Analyst Recommendations for Ring Energy (NYSE:REI)

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