Ring Energy (REI) Given a $20.00 Price Target by Roth Capital Analysts
Ring Energy (NYSE:REI) received a $20.00 target price from research analysts at Roth Capital in a research report issued on Friday. The brokerage presently has a “buy” rating on the stock. Roth Capital’s price objective suggests a potential upside of 51.63% from the stock’s previous close.
Other equities analysts have also issued research reports about the company. Northland Securities set a $20.00 price target on Ring Energy and gave the stock a “buy” rating in a research report on Monday, August 14th. Zacks Investment Research raised Ring Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, Imperial Capital initiated coverage on Ring Energy in a research report on Tuesday, August 15th. They issued an “outperform” rating and a $18.00 price target for the company. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $18.60.
Shares of Ring Energy (NYSE:REI) traded down 6.52% during mid-day trading on Friday, hitting $13.19. 357,671 shares of the stock traded hands. The company’s 50-day moving average price is $12.93 and its 200 day moving average price is $12.54. Ring Energy has a 1-year low of $8.76 and a 1-year high of $14.67. The company’s market capitalization is $714.17 million.
Ring Energy (NYSE:REI) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $14.50 million during the quarter, compared to analysts’ expectations of $14.20 million. Equities research analysts forecast that Ring Energy will post $0.19 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of REI. Marshall Wace North America L.P. purchased a new position in Ring Energy in the 1st quarter worth about $126,000. MARSHALL WACE ASIA Ltd purchased a new position in Ring Energy in the 1st quarter worth about $126,000. Legal & General Group Plc raised its position in Ring Energy by 4.9% in the 2nd quarter. Legal & General Group Plc now owns 9,869 shares of the company’s stock worth $128,000 after buying an additional 463 shares during the last quarter. UBS Asset Management Americas Inc. purchased a new position in Ring Energy in the 2nd quarter worth about $135,000. Finally, Lyell Wealth Management LP purchased a new position in Ring Energy in the 2nd quarter worth about $149,000.
Ring Energy Company Profile
Ring Energy, Inc acquires, explores for, develops, and produces oil and natural gas in Texas and Kansas, the United States. As of December 31, 2016, its proved reserves consisted of approximately 27.7 million barrel of oil equivalent. The company also owns interests in 32,663 net developed and undeveloped acres in Andrews and Gaines counties, and 20,490 net developed and undeveloped acres in Reeves and Culberson counties, Texas; and 14,549 net developed and undeveloped acres in Kansas.
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