Ring Energy (REI) Given a $20.00 Price Target by Roth Capital Analysts
Ring Energy (NYSE:REI) received a $20.00 price target from Roth Capital in a research report issued to clients and investors on Friday. The brokerage presently has a “buy” rating on the stock. Roth Capital’s target price indicates a potential upside of 51.63% from the company’s current price.
A number of other analysts also recently weighed in on the company. Zacks Investment Research downgraded Ring Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Imperial Capital started coverage on Ring Energy in a research report on Tuesday, August 15th. They issued an “outperform” rating and a $18.00 target price for the company. Finally, Northland Securities set a $20.00 target price on Ring Energy and gave the stock a “buy” rating in a research report on Monday, August 14th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $18.60.
Ring Energy (NYSE REI) traded down 6.52% on Friday, hitting $13.19. 357,671 shares of the stock were exchanged. The firm’s market cap is $714.17 million. Ring Energy has a 52-week low of $8.76 and a 52-week high of $14.67. The company has a 50-day moving average price of $12.93 and a 200-day moving average price of $12.54.
Ring Energy (NYSE:REI) last released its earnings results on Tuesday, August 8th. The company reported $0.04 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.04. The firm had revenue of $14.50 million during the quarter, compared to the consensus estimate of $14.20 million. On average, equities research analysts anticipate that Ring Energy will post $0.19 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the business. Legal & General Group Plc lifted its position in Ring Energy by 4.9% in the second quarter. Legal & General Group Plc now owns 9,869 shares of the company’s stock valued at $128,000 after purchasing an additional 463 shares during the last quarter. UBS Asset Management Americas Inc. bought a new stake in Ring Energy in the second quarter valued at approximately $135,000. Lyell Wealth Management LP bought a new stake in Ring Energy in the second quarter valued at approximately $149,000. Marshall Wace North America L.P. bought a new stake in Ring Energy in the first quarter valued at approximately $126,000. Finally, MARSHALL WACE ASIA Ltd bought a new stake in Ring Energy in the first quarter valued at approximately $126,000.
About Ring Energy
Ring Energy, Inc acquires, explores for, develops, and produces oil and natural gas in Texas and Kansas, the United States. As of December 31, 2016, its proved reserves consisted of approximately 27.7 million barrel of oil equivalent. The company also owns interests in 32,663 net developed and undeveloped acres in Andrews and Gaines counties, and 20,490 net developed and undeveloped acres in Reeves and Culberson counties, Texas; and 14,549 net developed and undeveloped acres in Kansas.
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