Shares of Ring Energy Inc (NYSEAMERICAN:REI) have earned a consensus rating of “Buy” from the nine ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $17.67.

Several research firms recently weighed in on REI. Ifs Securities reaffirmed an “outperform” rating on shares of Ring Energy in a research note on Monday, October 29th. Zacks Investment Research raised Ring Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Imperial Capital set a $15.00 price objective on Ring Energy and gave the company an “outperform” rating in a research note on Thursday, October 4th. Finally, Seaport Global Securities downgraded Ring Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $20.00 to $12.00 in a research note on Tuesday, October 2nd.

In other Ring Energy news, insider Daniel D. Wilson sold 25,000 shares of the firm’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $11.13, for a total value of $278,250.00. Following the transaction, the insider now directly owns 40,000 shares of the company’s stock, valued at $445,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President David A. Fowler sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $11.54, for a total value of $115,400.00. Following the completion of the transaction, the president now directly owns 135,200 shares in the company, valued at $1,560,208. The disclosure for this sale can be found here. Insiders sold 370,375 shares of company stock worth $4,183,691 in the last quarter.

A number of large investors have recently added to or reduced their stakes in REI. Neuburgh Advisers LLC increased its position in shares of Ring Energy by 103.5% during the second quarter. Neuburgh Advisers LLC now owns 9,962 shares of the company’s stock worth $126,000 after acquiring an additional 5,066 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Ring Energy during the second quarter worth about $145,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Ring Energy during the first quarter worth about $170,000. CIBC World Markets Inc. purchased a new stake in shares of Ring Energy during the second quarter worth about $151,000. Finally, Jane Street Group LLC purchased a new stake in shares of Ring Energy during the second quarter worth about $165,000.

Shares of REI stock traded down $0.14 during trading hours on Monday, reaching $7.55. 20,535 shares of the company’s stock were exchanged, compared to its average volume of 731,529. Ring Energy has a 1 year low of $6.75 and a 1 year high of $17.35.

Ring Energy (NYSEAMERICAN:REI) last issued its earnings results on Tuesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $32.69 million for the quarter, compared to analysts’ expectations of $30.83 million.

About Ring Energy

Ring Energy, Inc, an exploration and production company, acquires, explores for, develops, and produces oil and natural gas in Texas, the United States. As of December 31, 2017, the company's proved reserves consisted of approximately 31.9 million barrel of oil equivalent. As of the above date, it also had interests in 8,102 net developed acres and 61,772 net undeveloped acres in Andrews and Gaines counties; and 10,235 net developed acres and 9,682 net undeveloped acres in Culberson and Reeves counties.

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Analyst Recommendations for Ring Energy (NYSEAMERICAN:REI)

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