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.
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.
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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.
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