Ring Energy Inc (NYSEAMERICAN:REI) – B. Riley reduced their FY2019 earnings estimates for shares of Ring Energy in a research note issued on Tuesday. B. Riley analyst R. Rashid now anticipates that the company will earn $2.05 per share for the year, down from their prior forecast of $2.41. B. Riley currently has a “Buy” rating and a $20.00 target price on the stock.

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Several other analysts have also commented on the company. Northland Securities set a $18.00 price target on Ring Energy and gave the company a “buy” rating in a research note on Monday, December 11th. KLR Group began coverage on Ring Energy in a research note on Thursday, December 21st. They issued a “buy” rating and a $20.00 price target on the stock. Zacks Investment Research raised Ring Energy from a “hold” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a research note on Thursday, January 11th. Finally, Roth Capital set a $22.00 price objective on Ring Energy and gave the company a “buy” rating in a research report on Tuesday, January 16th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $18.75.

Shares of Ring Energy stock traded up $0.46 during trading hours on Thursday, hitting $14.37. The stock had a trading volume of 1,344,409 shares, compared to its average volume of 881,494. Ring Energy has a one year low of $9.22 and a one year high of $16.09. The firm has a market cap of $765.35, a price-to-earnings ratio of 130.64 and a beta of 0.27.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Ring Energy by 2.4% during the fourth quarter. BlackRock Inc. now owns 3,433,361 shares of the company’s stock worth $47,724,000 after buying an additional 80,793 shares during the period. Encompass Capital Advisors LLC raised its stake in Ring Energy by 1.5% in the fourth quarter. Encompass Capital Advisors LLC now owns 2,692,102 shares of the company’s stock valued at $37,420,000 after buying an additional 40,592 shares during the period. Phocas Financial Corp. raised its stake in Ring Energy by 4.3% in the fourth quarter. Phocas Financial Corp. now owns 1,398,675 shares of the company’s stock valued at $19,442,000 after buying an additional 57,388 shares during the period. Eagle Boston Investment Management Inc. raised its stake in Ring Energy by 4.6% in the fourth quarter. Eagle Boston Investment Management Inc. now owns 846,737 shares of the company’s stock valued at $11,769,000 after buying an additional 36,889 shares during the period. Finally, Icon Advisers Inc. Co. raised its stake in Ring Energy by 18.8% in the fourth quarter. Icon Advisers Inc. Co. now owns 583,100 shares of the company’s stock valued at $8,105,000 after buying an additional 92,300 shares during the period.

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Ring Energy Company Profile

Ring Energy, Inc (Ring) is an exploration and production company that is engaged in oil and natural gas acquisition, exploration, development and production activities. The Company’s exploration and production interests are focused on Texas and Kansas. Its operations are all oil and gas exploration and production related activities in the United States.

Earnings History and Estimates for Ring Energy (NYSEAMERICAN:REI)

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