Ring Energy (NYSE:REI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage currently has a $11.00 price target on the stock. Zacks Investment Research’s price target indicates a potential upside of 13.52% from the stock’s current price.

According to Zacks, “Ring Energy, Inc. is engaged in the exploration and development of oil and gas. The company operates primarily in Texas and Kansas. Ring Energy, Inc. is based in TULSA, United States. “

Several other research analysts also recently weighed in on the stock. Robert W. Baird reissued a “neutral” rating and issued a $24.00 target price on shares of Ring Energy in a research report on Monday, August 29th. Rodman & Renshaw assumed coverage on shares of Ring Energy in a research report on Monday, August 29th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Roth Capital reissued a “buy” rating on shares of Ring Energy in a research report on Tuesday, July 12th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $12.44.

Analyst Recommendations for Ring Energy (NYSE:REI)

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Shares of Ring Energy (NYSE:REI) opened at 9.69 on Wednesday. Ring Energy has a 12-month low of $4.00 and a 12-month high of $11.53. The firm’s market capitalization is $406.18 million. The company’s 50-day moving average is $9.79 and its 200-day moving average is $7.86.

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in Ring Energy by 0.5% in the second quarter. Royal Bank of Canada now owns 3,088,916 shares of the company’s stock valued at $27,245,000 after buying an additional 15,819 shares in the last quarter. Cannell Capital LLC boosted its stake in Ring Energy by 60.8% in the second quarter. Cannell Capital LLC now owns 1,673,844 shares of the company’s stock valued at $14,763,000 after buying an additional 632,855 shares in the last quarter. Vanguard Group Inc. boosted its stake in Ring Energy by 35.9% in the second quarter. Vanguard Group Inc. now owns 1,637,131 shares of the company’s stock valued at $14,439,000 after buying an additional 432,788 shares in the last quarter. FMR LLC boosted its stake in Ring Energy by 264.2% in the second quarter. FMR LLC now owns 1,624,548 shares of the company’s stock valued at $14,329,000 after buying an additional 1,178,548 shares in the last quarter. Finally, GLG Partners LP boosted its stake in Ring Energy by 69.2% in the second quarter. GLG Partners LP now owns 1,057,764 shares of the company’s stock valued at $9,330,000 after buying an additional 432,779 shares in the last quarter.

About Ring Energy

5 Day Chart for NYSE:REI

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