Ring Energy Inc (NYSEAMERICAN:REI) was the target of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 3,440,871 shares, a decline of 4.6% from the January 12th total of 3,605,636 shares. Currently, 6.9% of the shares of the stock are sold short. Based on an average trading volume of 323,533 shares, the days-to-cover ratio is currently 10.6 days.

Several brokerages have weighed in on REI. KLR Group began coverage on shares of Ring Energy in a research note on Thursday, December 21st. They set a “buy” rating and a $20.00 price objective on the stock. Zacks Investment Research cut shares of Ring Energy from a “strong-buy” rating to a “hold” rating in a research note on Saturday, January 13th. Northland Securities set a $20.00 price objective on shares of Ring Energy and gave the stock a “buy” rating in a research note on Saturday, October 21st. Roth Capital set a $22.00 price objective on shares of Ring Energy and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $19.00 price objective on shares of Ring Energy in a research note on Friday, November 10th. One equities 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 $19.00.

In other Ring Energy news, insider Daniel D. Wilson sold 50,000 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $13.77, for a total transaction of $688,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO William Randall Broaddrick sold 75,000 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $14.02, for a total transaction of $1,051,500.00. Following the sale, the chief financial officer now directly owns 50,000 shares in the company, valued at $701,000. The disclosure for this sale can be found here. In the last three months, insiders sold 262,724 shares of company stock worth $3,727,430.

Several hedge funds have recently made changes to their positions in the company. UBS Asset Management Americas Inc. lifted its holdings in Ring Energy by 73.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 17,995 shares of the company’s stock valued at $250,000 after buying an additional 7,600 shares during the period. BlackRock Inc. lifted its holdings in Ring Energy by 2.4% in the fourth quarter. BlackRock Inc. now owns 3,433,361 shares of the company’s stock valued at $47,724,000 after buying an additional 80,793 shares during the period. Eagle Boston Investment Management Inc. lifted its holdings 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. Icon Advisers Inc. Co. lifted its holdings 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. Finally, Teacher Retirement System of Texas acquired a new position in Ring Energy in the fourth quarter valued at approximately $238,000.

Ring Energy (NYSEAMERICAN REI) opened at $15.12 on Monday. Ring Energy has a 12-month low of $9.22 and a 12-month high of $15.95. The stock has a market cap of $833.23, a P/E ratio of 137.45 and a beta of 0.23.

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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.

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