Ring Energy Inc (NYSEAMERICAN:REI) has earned an average rating of “Buy” from the eight ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $18.80.

REI has been the subject of several recent research reports. Zacks Investment Research downgraded Ring Energy from a “strong-buy” rating to a “hold” rating in a report on Saturday, January 13th. Roth Capital set a $22.00 price target on Ring Energy and gave the stock a “buy” rating in a report on Tuesday, January 16th. KLR Group initiated coverage on Ring Energy in a report on Thursday, January 11th. They set a “buy” rating for the company. SunTrust Banks reaffirmed a “buy” rating and set a $19.00 price target on shares of Ring Energy in a report on Friday, November 10th. Finally, Northland Securities set a $18.00 price target on Ring Energy and gave the stock a “buy” rating in a report on Monday, December 11th.

In other Ring Energy news, CEO Kelly W. Hoffman sold 51,238 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $13.79, for a total value of $706,572.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel D. Wilson sold 50,000 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $13.77, for a total value of $688,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 262,724 shares of company stock valued at $3,727,430.

A hedge fund recently raised its stake in Ring Energy stock. Schwab Charles Investment Management Inc. grew its position in Ring Energy Inc (NYSEAMERICAN:REI) by 13.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 246,837 shares of the company’s stock after buying an additional 29,816 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.46% of Ring Energy worth $3,432,000 at the end of the most recent quarter.

Ring Energy (NYSEAMERICAN REI) traded up $0.14 during mid-day trading on Tuesday, hitting $15.22. The stock had a trading volume of 250,854 shares, compared to its average volume of 420,486. The firm has a market capitalization of $824.31, a P/E ratio of 138.36 and a beta of 0.79. Ring Energy has a 1-year low of $9.22 and a 1-year high of $15.95.

Ring Energy (NYSEAMERICAN:REI) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Ring Energy had a return on equity of 3.75% and a net margin of 18.47%.

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About Ring Energy

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.

Analyst Recommendations for Ring Energy (NYSEAMERICAN:REI)

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