Ring Energy (REI) Trading Up 5.6%
Ring Energy Inc (NYSEAMERICAN:REI)’s share price was up 5.6% during mid-day trading on Thursday . The company traded as high as $15.85 and last traded at $15.31. Approximately 1,080,575 shares traded hands during trading, an increase of 139% from the average daily volume of 451,322 shares. The stock had previously closed at $14.50.
Several equities research analysts have weighed in on REI shares. KLR Group started coverage on shares of Ring Energy in a research note on Thursday, December 21st. They issued a “buy” rating and a $20.00 target price for the company. Northland Securities set a $18.00 target price on shares of Ring Energy and gave the company a “buy” rating in a research note on Monday, December 11th. SunTrust Banks restated a “buy” rating and issued a $19.00 target price on shares of Ring Energy in a research note on Friday, November 10th. 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. Finally, Zacks Investment Research downgraded shares of Ring Energy from a “strong-buy” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $18.29.
The stock has a market capitalization of $850.31, a price-to-earnings ratio of 142.73 and a beta of 0.79.
An institutional investor recently raised its position in Ring Energy stock. Dalton Greiner Hartman Maher & Co. boosted its position in shares of Ring Energy Inc (NYSEAMERICAN:REI) by 44.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 242,973 shares of the company’s stock after buying an additional 75,194 shares during the quarter. Dalton Greiner Hartman Maher & Co. owned approximately 0.45% of Ring Energy worth $3,377,000 at the end of the most recent reporting period.
Ring Energy Company Profile
Ring Energy, Inc (Ring) is an exploration and production company that is engaged in oil and natural gas acquisition, exploration, development and production activities. The Company’s exploration and production interests are focused on Texas and Kansas. Its operations are all oil and gas exploration and production related activities in the United States.
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