Ring Energy Inc (NYSEAMERICAN:REI) Given Consensus Rating of “Hold” by Analysts

Ring Energy Inc (NYSEAMERICAN:REI) has earned a consensus recommendation of “Hold” from the eight brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $5.45.

Several brokerages recently commented on REI. Northland Securities set a $2.80 price objective on Ring Energy and gave the stock a “buy” rating in a report on Monday, October 21st. Imperial Capital cut their price objective on Ring Energy from $6.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday, August 22nd. LADENBURG THALM/SH SH lowered Ring Energy from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $5.00 to $3.00 in a report on Monday, August 26th. Finally, Zacks Investment Research lowered Ring Energy from a “buy” rating to a “hold” rating in a report on Thursday, July 25th.

Shares of REI stock traded up $0.05 during mid-day trading on Tuesday, hitting $2.38. The company’s stock had a trading volume of 1,692,146 shares, compared to its average volume of 890,328. Ring Energy has a 52-week low of $1.23 and a 52-week high of $7.76. The business has a 50-day moving average price of $1.65 and a 200 day moving average price of $3.64.

Ring Energy (NYSEAMERICAN:REI) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.04. The firm had revenue of $51.33 million during the quarter, compared to the consensus estimate of $49.66 million.

In related news, President David A. Fowler purchased 20,750 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was acquired at an average price of $1.66 per share, with a total value of $34,445.00. Following the completion of the acquisition, the president now owns 152,900 shares of the company’s stock, valued at approximately $253,814. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William Randall Broaddrick purchased 25,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were bought at an average cost of $1.69 per share, with a total value of $42,250.00. Following the acquisition, the chief financial officer now directly owns 50,000 shares of the company’s stock, valued at approximately $84,500. The disclosure for this purchase can be found here. Insiders have acquired 115,250 shares of company stock valued at $183,370 in the last three months.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in REI. Sheaff Brock Investment Advisors LLC boosted its stake in shares of Ring Energy by 106.4% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 45,400 shares of the company’s stock worth $74,000 after acquiring an additional 23,400 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Ring Energy by 124.9% in the third quarter. State of Alaska Department of Revenue now owns 45,913 shares of the company’s stock worth $75,000 after acquiring an additional 25,495 shares during the period. Magnus Financial Group LLC bought a new position in shares of Ring Energy in the second quarter worth about $78,000. WINTON GROUP Ltd boosted its stake in shares of Ring Energy by 23.8% in the second quarter. WINTON GROUP Ltd now owns 26,620 shares of the company’s stock worth $87,000 after acquiring an additional 5,119 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of Ring Energy in the second quarter worth about $88,000.

Ring Energy Company Profile

Ring Energy, Inc, an exploration and production company, acquires, explores for, develops, and produces oil and natural gas in Texas, the United States. As of December 31, 2018, the company's proved reserves consisted of approximately 36.6 million barrel of oil equivalent. As of the above date, it also had interests in 17,408 net developed acres and 58,620 net undeveloped acres in Andrews and Gaines counties; and 19,138 net developed acres and 860 net undeveloped acres in Culberson and Reeves counties.

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Analyst Recommendations for Ring Energy (NYSEAMERICAN:REI)

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