Ring Energy Inc (REI) Receives $19.33 Average PT from Analysts
Ring Energy Inc (NYSEAMERICAN:REI) has been given a consensus rating of “Buy” by the nine analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $19.33.
REI has been the topic of a number of recent analyst reports. KLR Group initiated coverage on shares of Ring Energy in a research report on Thursday, January 11th. They set a “buy” rating on the stock. Northland Securities set a $18.00 price target on shares of Ring Energy and gave the stock a “buy” rating in a research report on Monday, December 11th. SunTrust Banks reissued a “buy” rating and set a $19.00 price target on shares of Ring Energy in a research report on Friday, November 10th. B. Riley initiated coverage on shares of Ring Energy in a research report on Monday, February 5th. They set a “buy” rating and a $22.00 price target on the stock. Finally, Roth Capital set a $22.00 price target on shares of Ring Energy and gave the stock a “buy” rating in a research report on Tuesday, January 16th.
In related news, Director Rochford Living Trust Lloyd Ti sold 86,486 shares of the firm’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $14.81, for a total transaction of $1,280,857.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel D. Wilson sold 50,000 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $13.77, for a total transaction of $688,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 262,724 shares of company stock worth $3,727,430.
Shares of Ring Energy (NYSEAMERICAN REI) traded up $0.11 during mid-day trading on Friday, reaching $15.81. 671,147 shares of the company’s stock were exchanged, compared to its average volume of 905,320. Ring Energy has a 1 year low of $9.22 and a 1 year high of $16.09. The company has a market capitalization of $856.27, a PE ratio of 143.73 and a beta of 0.23.
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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.
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