Ring Energy (REI) Downgraded to Hold at Zacks Investment Research
Ring Energy (NYSE:REI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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 research reports. Wunderlich increased their target price on Ring Energy from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, May 12th. Roth Capital reissued a “buy” rating on shares of Ring Energy in a report on Tuesday, July 12th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Ring Energy in a report on Monday, April 25th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Ring Energy has a consensus rating of “Buy” and an average price target of $12.56.
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Ring Energy (NYSE:REI) traded down 1.16% during trading on Tuesday, reaching $11.03. The company had a trading volume of 96,888 shares. The company’s 50-day moving average is $10.36 and its 200 day moving average is $8.35. Ring Energy has a 52 week low of $4.00 and a 52 week high of $11.53. The firm’s market capitalization is $462.34 million.
A number of large investors have recently bought and sold shares of REI. Dimensional Fund Advisors LP boosted its stake in Ring Energy by 7.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 150,512 shares of the company’s stock valued at $1,061,000 after buying an additional 10,728 shares during the period. Cortina Asset Management LLC boosted its stake in Ring Energy by 21.5% in the fourth quarter. Cortina Asset Management LLC now owns 465,090 shares of the company’s stock valued at $3,279,000 after buying an additional 82,226 shares during the period. Cannell Capital LLC acquired a new stake in Ring Energy during the fourth quarter valued at about $3,514,000. Allianz Asset Management AG boosted its stake in Ring Energy by 23.6% in the fourth quarter. Allianz Asset Management AG now owns 179,792 shares of the company’s stock valued at $1,268,000 after buying an additional 34,278 shares during the period. Finally, Foundry Partners LLC boosted its stake in Ring Energy by 72.0% in the first quarter. Foundry Partners LLC now owns 380,320 shares of the company’s stock valued at $1,921,000 after buying an additional 159,160 shares during the period.
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