Ring Energy (NYSEAMERICAN:REI) received a $22.00 target price from stock analysts at Roth Capital in a research report issued on Tuesday. The brokerage currently has a “buy” rating on the stock. Roth Capital’s price target would suggest a potential upside of 41.48% from the company’s previous close.
Several other research firms have also weighed in on REI. Zacks Investment Research lowered Ring Energy from a “strong-buy” rating to a “hold” rating in a research report on Saturday, January 13th. KLR Group assumed coverage on Ring Energy in a research report on Thursday, January 11th. They set a “buy” rating on the stock. SunTrust Banks restated a “buy” rating and set a $19.00 price target on shares of Ring Energy in a research report on Friday, November 10th. Finally, Northland Securities set a $18.00 target price on Ring Energy and gave the stock a “buy” rating in a report on Monday, December 11th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $18.57.
Shares of Ring Energy (NYSEAMERICAN:REI) opened at $15.55 on Tuesday. Ring Energy has a 1 year low of $9.22 and a 1 year high of $15.95. The firm has a market capitalization of $850.31, a P/E ratio of 141.36 and a beta of 0.79.
In other news, insider Daniel D. Wilson sold 50,000 shares of the business’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO William Randall Broaddrick sold 75,000 shares of the business’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $14.02, for a total value of $1,051,500.00. Following the completion of the transaction, the chief financial officer now owns 50,000 shares of the company’s stock, valued at approximately $701,000. The disclosure for this sale can be found here. Insiders sold 262,724 shares of company stock worth $3,727,430 over the last three months.
An institutional investor recently raised its position in Ring Energy stock. Schwab Charles Investment Management Inc. lifted its holdings in Ring Energy Inc (NYSEAMERICAN:REI) by 13.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 246,837 shares of the company’s stock after purchasing an additional 29,816 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.46% of Ring Energy worth $3,432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
TRADEMARK VIOLATION WARNING: This story was originally reported by Week Herald and is the property of of Week Herald. If you are viewing this story on another domain, it was illegally copied and republished in violation of United States and international copyright & trademark law. The legal version of this story can be accessed at https://weekherald.com/2018/01/18/ring-energy-rei-pt-set-at-22-00-by-roth-capital.html.
Ring Energy Company Profile
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.
Receive News & Ratings for Ring Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ring Energy and related companies with MarketBeat.com's FREE daily email newsletter.