Ring Energy (NYSE:REI) Stock Rating Upgraded by Zacks Investment Research
Ring Energy (NYSE:REI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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. “
Several other equities research analysts also recently issued reports on the company. Roth Capital set a $19.00 price target on Ring Energy and gave the company a “buy” rating in a research report on Monday, April 17th. Ladenburg Thalmann Financial Services reissued a “buy” rating and set a $17.00 target price (up from $15.00) on shares of Ring Energy in a research report on Saturday, April 22nd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $16.79.
Shares of Ring Energy (REI) opened at 13.14 on Tuesday. The firm’s market capitalization is $646.04 million. Ring Energy has a 52 week low of $8.42 and a 52 week high of $14.14. The firm’s 50-day moving average price is $12.60 and its 200 day moving average price is $12.34.
Ring Energy (NYSE:REI) last issued its quarterly earnings results on Tuesday, May 9th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.03. The business had revenue of $12.24 million during the quarter, compared to analyst estimates of $11.47 million. On average, analysts anticipate that Ring Energy will post $0.18 EPS for the current year.
ILLEGAL ACTIVITY WARNING: This story was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was copied illegally and reposted in violation of United States and international copyright and trademark legislation. The legal version of this story can be accessed at https://www.americanbankingnews.com/2017/08/08/ring-energy-nyserei-stock-rating-upgraded-by-zacks-investment-research.html.
Hedge funds have recently modified their holdings of the stock. Pembroke Management LTD purchased a new position in shares of Ring Energy during the second quarter valued at about $11,791,000. Formula Growth Ltd. raised its position in shares of Ring Energy by 29.9% in the first quarter. Formula Growth Ltd. now owns 2,077,964 shares of the company’s stock valued at $22,484,000 after buying an additional 478,125 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Ring Energy during the second quarter valued at about $4,980,000. Monarch Partners Asset Management LLC raised its position in shares of Ring Energy by 805.9% in the first quarter. Monarch Partners Asset Management LLC now owns 253,835 shares of the company’s stock valued at $2,746,000 after buying an additional 225,815 shares during the period. Finally, Hodges Capital Management Inc. raised its position in shares of Ring Energy by 18.3% in the first quarter. Hodges Capital Management Inc. now owns 1,418,125 shares of the company’s stock valued at $15,344,000 after buying an additional 219,540 shares during the period.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.