Ring Energy (REI) Stock Rating Lowered by Zacks Investment Research
Ring Energy (NYSE:REI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
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. “
A number of other analysts also recently issued reports on the stock. Rodman & Renshaw initiated coverage on shares of Ring Energy in a report on Monday, August 29th. They set a “buy” rating and a $15.00 price target on the stock. Robert W. Baird reaffirmed a “neutral” rating and set a $24.00 price target on shares of Ring Energy in a report on Monday, August 29th. Imperial Capital initiated coverage on shares of Ring Energy in a report on Tuesday, September 27th. They set an “outperform” rating and a $13.50 price target on the stock. Finally, Roth Capital reaffirmed a “buy” rating on shares of Ring Energy in a report on Tuesday, July 12th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $12.56.
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Ring Energy (NYSE:REI) opened at 10.79 on Wednesday. The firm has a 50-day moving average of $10.55 and a 200-day moving average of $8.68. Ring Energy has a 1-year low of $4.00 and a 1-year high of $11.80. The stock’s market cap is $452.28 million.
Several large investors have recently modified their holdings of REI. State Street Corp raised its stake in shares of Ring Energy by 3.5% in the first quarter. State Street Corp now owns 285,989 shares of the company’s stock worth $1,445,000 after buying an additional 9,546 shares during the last quarter. Geode Capital Management LLC raised its stake 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 last quarter. Renaissance Technologies LLC acquired a new stake in shares of Ring Energy during the first quarter worth $289,000. Aristotle Capital Boston LLC raised its stake 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 last quarter. Finally, Dalton Greiner Hartman Maher & Co. raised its stake in shares of Ring Energy by 1,466.3% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 172,962 shares of the company’s stock worth $1,526,000 after buying an additional 161,919 shares during the last quarter.
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