Ring Energy (REI) Research Coverage Started at Imperial Capital

Imperial Capital started coverage on shares of Ring Energy (NYSE:REI) in a research report report published on Tuesday, Marketbeat reports. The brokerage issued an outperform rating and a $18.00 target price on the stock.

A number of other equities research analysts also recently issued reports on REI. Roth Capital set a $20.00 target price on shares of Ring Energy and gave the stock a buy rating in a research report on Thursday, August 10th. Northland Securities set a $20.00 target price on shares of Ring Energy and gave the stock a buy rating in a research report on Monday, August 14th. Zacks Investment Research upgraded shares of Ring Energy from a sell rating to a hold rating in a research report on Tuesday, August 8th. Finally, Ladenburg Thalmann Financial Services reiterated a buy rating and issued a $17.00 target price (up previously from $15.00) on shares of Ring Energy in a research report on Saturday, April 22nd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Ring Energy presently has an average rating of Buy and an average price target of $17.88.

Shares of Ring Energy (NYSE REI) opened at 12.14 on Tuesday. The stock’s 50 day moving average is $12.97 and its 200 day moving average is $12.33. The stock’s market capitalization is $657.32 million. Ring Energy has a 52 week low of $8.76 and a 52 week high of $14.14.

Ring Energy (NYSE:REI) last released its earnings results on Tuesday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $14.50 million during the quarter, compared to analysts’ expectations of $14.20 million. Analysts anticipate that Ring Energy will post $0.19 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in REI. Ranger Investment Management L.P. raised its position in shares of Ring Energy by 0.3% in the first quarter. Ranger Investment Management L.P. now owns 163,509 shares of the company’s stock valued at $1,769,000 after buying an additional 435 shares during the period. Legal & General Group Plc raised its position in shares of Ring Energy by 4.9% in the second quarter. Legal & General Group Plc now owns 9,869 shares of the company’s stock valued at $128,000 after buying an additional 463 shares during the period. Greenwood Capital Associates LLC raised its position in shares of Ring Energy by 5.3% in the first quarter. Greenwood Capital Associates LLC now owns 13,741 shares of the company’s stock valued at $149,000 after buying an additional 695 shares during the period. Teachers Advisors LLC raised its position in shares of Ring Energy by 2.5% in the first quarter. Teachers Advisors LLC now owns 76,346 shares of the company’s stock valued at $826,000 after buying an additional 1,856 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Ring Energy by 12.5% in the second quarter. The Manufacturers Life Insurance Company now owns 35,311 shares of the company’s stock valued at $460,000 after buying an additional 3,923 shares during the period.

Analyst Recommendations for Ring Energy (NYSE:REI)

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