KLR Group Initiates Coverage on Ring Energy (REI)

KLR Group started coverage on shares of Ring Energy (NYSEAMERICAN:REI) in a research report released on Thursday, Marketbeat.com reports. The firm issued a buy rating on the stock.

Several other equities research analysts also recently commented on REI. SunTrust Banks reaffirmed a buy rating and issued a $19.00 target price on shares of Ring Energy in a research note on Friday, November 10th. Northland Securities set a $18.00 target price on shares of Ring Energy and gave the company a buy rating in a research note on Monday, December 11th. Roth Capital set a $20.00 target price on shares of Ring Energy and gave the company a buy rating in a research note on Friday, October 6th. Finally, Zacks Investment Research raised shares of Ring Energy from a hold rating to a strong-buy rating and set a $16.00 target price for the company in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $18.29.

Shares of Ring Energy (NYSEAMERICAN REI) traded up $0.39 during midday trading on Thursday, reaching $15.70. 512,889 shares of the company traded hands, compared to its average volume of 417,769. Ring Energy has a fifty-two week low of $9.22 and a fifty-two week high of $15.92. The firm has a market capitalization of $850.31, a price-to-earnings ratio of 142.73 and a beta of 0.79.

In other news, CEO Kelly W. Hoffman sold 51,238 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $13.79, for a total transaction of $706,572.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel D. Wilson sold 50,000 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $13.77, for a total transaction of $688,500.00. The disclosure for this sale can be found here. Insiders sold 262,724 shares of company stock valued at $3,727,430 in the last ninety days.

An institutional investor recently raised its position in Ring Energy stock. Dalton Greiner Hartman Maher & Co. lifted its stake in shares of Ring Energy Inc (NYSEAMERICAN:REI) by 44.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 242,973 shares of the company’s stock after acquiring an additional 75,194 shares during the period. Dalton Greiner Hartman Maher & Co. owned approximately 0.45% of Ring Energy worth $3,377,000 at the end of the most recent quarter.

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Ring Energy Company Profile

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.

Analyst Recommendations for Ring Energy (NYSEAMERICAN:REI)

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