Roth Capital Analysts Give Ring Energy (NYSE:REI) a $20.00 Price Target
Ring Energy (NYSE:REI) received a $20.00 price objective from investment analysts at Roth Capital in a research note issued on Thursday. The brokerage presently has a “buy” rating on the stock. Roth Capital’s price target suggests a potential upside of 47.17% from the company’s previous close.
A number of other equities analysts also recently commented on the company. Zacks Investment Research upgraded Ring Energy from a “sell” rating to a “hold” rating in a research note on Tuesday. Ladenburg Thalmann Financial Services reiterated a “buy” rating and issued a $17.00 price target (up from $15.00) on shares of Ring Energy in a research note on Saturday, April 22nd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $16.93.
Ring Energy (NYSE REI) traded down 0.44% on Thursday, hitting $13.53. The stock had a trading volume of 119,225 shares. Ring Energy has a one year low of $8.73 and a one year high of $14.14. The stock’s market cap is $732.58 million. The company’s 50-day moving average is $12.77 and its 200-day moving average is $12.35.
Ring Energy (NYSE:REI) last announced its earnings results on Tuesday, August 8th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $14.50 million for the quarter, compared to analyst estimates of $14.20 million. On average, analysts anticipate that Ring Energy will post $0.19 earnings per share for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in REI. Alliancebernstein L.P. boosted its stake in Ring Energy by 142.7% in the second quarter. Alliancebernstein L.P. now owns 34,700 shares of the company’s stock worth $451,000 after buying an additional 20,400 shares during the period. Wells Fargo & Company MN boosted its stake in Ring Energy by 24.7% in the second quarter. Wells Fargo & Company MN now owns 44,860 shares of the company’s stock worth $582,000 after buying an additional 8,884 shares during the period. Kennedy Capital Management Inc. acquired a new stake in Ring Energy during the second quarter worth $5,691,000. Sheaff Brock Investment Advisors LLC acquired a new stake in Ring Energy during the second quarter worth $169,000. Finally, Eagle Boston Investment Management Inc. boosted its stake in Ring Energy by 3.0% in the second quarter. Eagle Boston Investment Management Inc. now owns 810,453 shares of the company’s stock worth $10,535,000 after buying an additional 23,619 shares during the period.
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