Ring Energy (REI) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Ring Energy (NYSEAMERICAN:REI) have earned an average rating of “Buy” from the eight analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $19.00.

A number of equities research analysts have issued reports on REI shares. Northland Securities set a $18.00 target price on shares of Ring Energy and gave the company a “buy” rating in a report on Monday, December 11th. KLR Group began coverage on shares of Ring Energy in a research report on Thursday, December 21st. They set a “buy” rating and a $20.00 price target for the company. Zacks Investment Research raised shares of Ring Energy from a “hold” rating to a “strong-buy” rating and set a $16.00 price target for the company in a research report on Thursday, January 11th. Roth Capital set a $22.00 price target on shares of Ring Energy and gave the company a “buy” rating in a research report on Tuesday, January 16th. Finally, B. Riley began coverage on shares of Ring Energy in a research report on Monday, February 5th. They set a “buy” rating and a $22.00 price target for the company.

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REI stock traded down $0.57 during midday trading on Friday, reaching $13.18. 481,555 shares of the company’s stock traded hands, compared to its average volume of 815,208. Ring Energy has a 52 week low of $10.88 and a 52 week high of $16.09.

A number of hedge funds have recently modified their holdings of REI. BlackRock Inc. increased its stake in Ring Energy by 2.4% during the 4th quarter. BlackRock Inc. now owns 3,433,361 shares of the company’s stock valued at $47,724,000 after purchasing an additional 80,793 shares in the last quarter. Encompass Capital Advisors LLC lifted its stake in Ring Energy by 1.5% in the fourth quarter. Encompass Capital Advisors LLC now owns 2,692,102 shares of the company’s stock valued at $37,420,000 after buying an additional 40,592 shares during the last quarter. Phocas Financial Corp. lifted its stake in Ring Energy by 4.3% in the fourth quarter. Phocas Financial Corp. now owns 1,398,675 shares of the company’s stock valued at $19,442,000 after buying an additional 57,388 shares during the last quarter. Eagle Boston Investment Management Inc. lifted its stake 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 last quarter. Finally, Icon Advisers Inc. Co. lifted its stake 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 last quarter.

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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.

Analyst Recommendations for Ring Energy (NYSEAMERICAN:REI)

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