Several other research analysts also recently commented on REI. Northland Securities set a $20.00 price objective on Ring Energy and gave the stock a buy rating in a research note on Saturday, October 21st. SunTrust Banks reaffirmed a buy rating and issued a $19.00 price objective on shares of Ring Energy in a research note on Friday, November 10th. KLR Group started coverage on Ring Energy in a research note on Thursday, December 21st. They issued a buy rating and a $20.00 price objective on the stock. Finally, Zacks Investment Research raised Ring Energy from a hold rating to a strong-buy rating and set a $16.00 price objective on the stock in a research note on Thursday, January 11th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $18.57.
Ring Energy (REI) traded down $0.47 during mid-day trading on Tuesday, reaching $15.08. The company’s stock had a trading volume of 453,900 shares, compared to its average volume of 459,425. Ring Energy has a 52 week low of $9.22 and a 52 week high of $15.95. The company has a market capitalization of $850.31, a P/E ratio of 137.09 and a beta of 0.79.
In related news, insider Daniel D. Wilson sold 50,000 shares of Ring Energy stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $13.77, for a total transaction of $688,500.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Kelly W. Hoffman sold 51,238 shares of Ring Energy stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $13.79, for a total value of $706,572.02. The disclosure for this sale can be found here. Insiders sold 262,724 shares of company stock worth $3,727,430 in the last ninety days.
A hedge fund recently raised its stake in Ring Energy stock. Schwab Charles Investment Management Inc. boosted its holdings in shares of Ring Energy Inc (NYSEAMERICAN:REI) by 13.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 246,837 shares of the company’s stock after purchasing an additional 29,816 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.46% of Ring Energy worth $3,432,000 at the end of the most recent quarter.
TRADEMARK VIOLATION WARNING: This article was first reported by Ticker Report and is the sole property of of Ticker Report. If you are reading this article on another publication, it was illegally copied and reposted in violation of international copyright and trademark legislation. The original version of this article can be read at https://www.tickerreport.com/banking-finance/3145754/ring-energy-rei-given-a-22-00-price-target-at-roth-capital.html.
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.
Receive News & Ratings for Ring Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ring Energy and related companies with MarketBeat.com's FREE daily email newsletter.