Ring Energy (NYSEAMERICAN:REI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Ring Energy, Inc. is engaged in the exploration and development of oil and gas. The company operates primarily in Texas and Kansas. Ring Energy, Inc. is based in TULSA, United States. “
A number of other equities analysts have also recently weighed in on the stock. Imperial Capital set a $8.00 price objective on shares of Ring Energy and gave the company a “buy” rating in a research report on Friday, December 28th. Capital One Financial cut shares of Ring Energy from an “overweight” rating to an “equal weight” rating in a research report on Thursday, December 20th. SunTrust Banks reissued a “buy” rating and issued a $12.00 price objective on shares of Ring Energy in a research report on Sunday, December 2nd. Finally, Ifs Securities reissued an “outperform” rating on shares of Ring Energy in a research report on Monday, October 29th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $14.20.
NYSEAMERICAN:REI opened at $6.02 on Tuesday. Ring Energy has a 1-year low of $4.01 and a 1-year high of $17.35.
Several institutional investors have recently modified their holdings of the company. Bank of Montreal Can raised its stake in Ring Energy by 515.2% during the fourth quarter. Bank of Montreal Can now owns 6,453 shares of the company’s stock worth $33,000 after acquiring an additional 5,404 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in Ring Energy during the fourth quarter worth about $53,000. Crossmark Global Holdings Inc. acquired a new stake in Ring Energy during the fourth quarter worth about $64,000. Flinton Capital Management LLC raised its stake in Ring Energy by 16.4% during the fourth quarter. Flinton Capital Management LLC now owns 13,748 shares of the company’s stock worth $70,000 after acquiring an additional 1,932 shares during the period. Finally, Neuburgh Advisers LLC raised its stake in Ring Energy by 16.4% during the fourth quarter. Neuburgh Advisers LLC now owns 16,694 shares of the company’s stock worth $85,000 after acquiring an additional 2,346 shares during the period.
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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