Analysts at Imperial Capital started coverage on shares of Ring Energy (NYSE:REI) in a report issued on Tuesday, MarketBeat.com reports. The firm set an “outperform” rating and a $18.00 price target on the stock. Imperial Capital’s price target indicates a potential upside of 34.63% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. Northland Securities set a $20.00 price target on Ring Energy and gave the company a “buy” rating in a research report on Monday. Roth Capital set a $20.00 price target on Ring Energy and gave the company a “buy” rating in a research report on Thursday, August 10th. Zacks Investment Research upgraded Ring Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, Ladenburg Thalmann Financial Services restated a “buy” rating and set a $17.00 price target (up from $15.00) on shares of Ring Energy in a research report on Saturday, April 22nd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $17.88.

Shares of Ring Energy (NYSE:REI) traded up 1.21% during mid-day trading on Tuesday, reaching $13.37. The company had a trading volume of 307,998 shares. The firm’s market capitalization is $723.92 million. The stock has a 50 day moving average price of $12.93 and a 200 day moving average price of $12.33. Ring Energy has a 12-month low of $8.76 and a 12-month high of $14.14.

Ring Energy (NYSE:REI) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.04 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. The firm had revenue of $14.50 million for the quarter, compared to the consensus estimate of $14.20 million. On average, equities analysts forecast that Ring Energy will post $0.20 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its position in shares of Ring Energy by 12.5% in the second quarter. The Manufacturers Life Insurance Company now owns 35,311 shares of the company’s stock worth $460,000 after buying an additional 3,923 shares during the last quarter. Daruma Capital Management LLC boosted its position in shares of Ring Energy by 1,661.2% in the second quarter. Daruma Capital Management LLC now owns 2,232,367 shares of the company’s stock worth $29,021,000 after buying an additional 2,105,611 shares during the last quarter. State Street Corp boosted its position in shares of Ring Energy by 6.5% in the second quarter. State Street Corp now owns 1,167,000 shares of the company’s stock worth $15,171,000 after buying an additional 71,074 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Ring Energy by 12.9% in the second quarter. Royal Bank of Canada now owns 3,749,444 shares of the company’s stock worth $48,743,000 after buying an additional 428,570 shares during the last quarter. Finally, Employees Retirement System of Texas bought a new position in shares of Ring Energy during the second quarter worth about $923,000.

Analyst Recommendations for Ring Energy (NYSE:REI)

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