KLR Group Initiates Coverage on Ring Energy (REI)
Stock analysts at KLR Group assumed coverage on shares of Ring Energy (NYSEAMERICAN:REI) in a research note issued on Thursday. The firm set a “buy” rating on the stock.
Other analysts have also recently issued research reports about the company. Northland Securities set a $18.00 target price on Ring Energy and gave the stock a “buy” rating in a research report on Monday, December 11th. SunTrust Banks reiterated a “buy” rating and set a $19.00 target price on shares of Ring Energy in a research report on Friday, November 10th. Roth Capital set a $20.00 target price on Ring Energy and gave the stock a “buy” rating in a research report on Friday, October 6th. Finally, Zacks Investment Research upgraded Ring Energy from a “hold” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a research report on Thursday. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $18.25.
Ring Energy (NYSEAMERICAN REI) traded up $0.20 on Thursday, hitting $14.50. The stock had a trading volume of 395,400 shares, compared to its average volume of 361,429. Ring Energy has a twelve month low of $9.22 and a twelve month high of $15.13. The firm has a market capitalization of $801.03, a PE ratio of 131.82 and a beta of 0.79.
In other Ring Energy news, CFO William Randall Broaddrick sold 75,000 shares of Ring Energy stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $14.02, for a total value of $1,051,500.00. Following the sale, the chief financial officer now owns 50,000 shares of the company’s stock, valued at approximately $701,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rochford Living Trust Lloyd Ti sold 86,486 shares of Ring Energy stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $14.81, for a total value of $1,280,857.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 262,724 shares of company stock worth $3,727,430.
A hedge fund recently raised its stake in Ring Energy stock. Dalton Greiner Hartman Maher & Co. raised its holdings in Ring Energy Inc (NYSEAMERICAN:REI) by 44.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 242,973 shares of the company’s stock after purchasing an additional 75,194 shares during the quarter. Dalton Greiner Hartman Maher & Co. owned 0.45% of Ring Energy worth $3,377,000 as of its most recent filing with the Securities and Exchange Commission.
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About Ring Energy
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.
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