Shares of Ring Energy (NYSE:REI) have been given an average recommendation of “Buy” by the eight brokerages that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $17.90.

A number of analysts have recently weighed in on REI shares. Roth Capital set a $19.00 price target on Ring Energy and gave the stock a “buy” rating in a research report on Monday, April 17th. Ladenburg Thalmann Financial Services reissued a “buy” rating and issued a $17.00 price objective (up from $15.00) on shares of Ring Energy in a report on Saturday, April 22nd. Finally, Zacks Investment Research lowered Ring Energy from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th.

Ring Energy (REI) traded up 2.04% during mid-day trading on Friday, hitting $13.49. The company had a trading volume of 303,309 shares. The firm’s market cap is $730.42 million. Ring Energy has a 52-week low of $8.76 and a 52-week high of $14.14. The stock’s 50 day moving average price is $12.89 and its 200 day moving average price is $12.35.

Ring Energy (NYSE:REI) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $14.50 million for the quarter, compared to analyst estimates of $14.20 million. On average, equities research analysts predict that Ring Energy will post $0.19 EPS for the current fiscal year.

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A number of institutional investors have recently modified their holdings of the company. Ranger Investment Management L.P. raised its position in shares of Ring Energy by 0.3% in the first quarter. Ranger Investment Management L.P. now owns 163,509 shares of the company’s stock worth $1,769,000 after buying an additional 435 shares during the period. Legal & General Group Plc raised its position in shares of Ring Energy by 4.9% in the second quarter. Legal & General Group Plc now owns 9,869 shares of the company’s stock worth $128,000 after buying an additional 463 shares during the period. Greenwood Capital Associates LLC raised its position in shares of Ring Energy by 5.3% in the first quarter. Greenwood Capital Associates LLC now owns 13,741 shares of the company’s stock worth $149,000 after buying an additional 695 shares during the period. Teachers Advisors LLC raised its position in shares of Ring Energy by 2.5% in the first quarter. Teachers Advisors LLC now owns 76,346 shares of the company’s stock worth $826,000 after buying an additional 1,856 shares during the period. Finally, American International Group Inc. raised its position in shares of Ring Energy by 21.9% in the first quarter. American International Group Inc. now owns 25,070 shares of the company’s stock worth $271,000 after buying an additional 4,509 shares during the period.

Ring Energy Company Profile

Analyst Recommendations for Ring Energy (NYSE:REI)

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