Ring Energy (NYSE:REI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $11.00 price target on the stock. Zacks Investment Research’s price objective points to a potential upside of 9.34% from the stock’s previous close.

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. “

REI has been the subject of a number of other reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $24.00 target price on shares of Ring Energy in a research note on Monday, August 29th. Rodman & Renshaw began coverage on Ring Energy in a research note on Monday, August 29th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Roth Capital reaffirmed a “buy” rating on shares of Ring Energy in a research note on Thursday, May 26th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Ring Energy presently has a consensus rating of “Buy” and a consensus target price of $12.44.

Analyst Recommendations for Ring Energy (NYSE:REI)

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Ring Energy (NYSE:REI) traded up 3.82% during mid-day trading on Wednesday, hitting $10.06. The company had a trading volume of 75,372 shares. Ring Energy has a 52-week low of $4.00 and a 52-week high of $11.53. The company’s market capitalization is $421.69 million. The company has a 50-day moving average price of $9.86 and a 200 day moving average price of $7.88.

Several institutional investors have recently added to or reduced their stakes in REI. Geode Capital Management LLC boosted its position in shares of Ring Energy by 0.9% in the first quarter. Geode Capital Management LLC now owns 160,463 shares of the company’s stock worth $810,000 after buying an additional 1,448 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in shares of Ring Energy by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 300,359 shares of the company’s stock worth $1,517,000 after buying an additional 1,636 shares during the period. Rhumbline Advisers boosted its position in shares of Ring Energy by 7.2% in the second quarter. Rhumbline Advisers now owns 38,032 shares of the company’s stock worth $335,000 after buying an additional 2,569 shares during the period. Aristotle Capital Boston LLC boosted its position in shares of Ring Energy by 0.7% in the first quarter. Aristotle Capital Boston LLC now owns 361,421 shares of the company’s stock worth $1,825,000 after buying an additional 2,575 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its position in shares of Ring Energy by 6.0% in the first quarter. TIAA CREF Investment Management LLC now owns 79,520 shares of the company’s stock worth $402,000 after buying an additional 4,531 shares during the period.

About Ring Energy

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