Stock analysts at Imperial Capital began coverage on shares of Ring Energy (NYSE:REI) in a note issued to investors on Tuesday. The firm set an “outperform” rating and a $13.50 price target on the stock. Imperial Capital’s price objective suggests a potential upside of 30.81% from the stock’s previous close.
REI has been the subject of several other research reports. Rodman & Renshaw started coverage on Ring Energy in a report on Monday, August 29th. They set a “buy” rating and a $15.00 price target for the company. Zacks Investment Research raised Ring Energy from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Wednesday, September 21st. Robert W. Baird reaffirmed a “neutral” rating and set a $24.00 price target on shares of Ring Energy in a report on Monday, August 29th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Ring Energy in a report on Tuesday, July 12th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $12.56.
Ring Energy (NYSE:REI) opened at 10.32 on Tuesday. Ring Energy has a 12 month low of $4.00 and a 12 month high of $11.53. The company’s 50-day moving average is $10.00 and its 200 day moving average is $8.01. The firm’s market cap is $432.58 million.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Advisors LLC boosted its position in Ring Energy by 51.4% in the second quarter. BlackRock Advisors LLC now owns 17,040 shares of the company’s stock valued at $150,000 after buying an additional 5,783 shares during the last quarter. American International Group Inc. boosted its position in shares of Ring Energy by 69.5% in the second quarter. American International Group Inc. now owns 20,584 shares of the company’s stock worth $182,000 after buying an additional 8,443 shares during the last quarter. Metropolitan Life Insurance Co. NY bought a new position in shares of Ring Energy during the second quarter worth approximately $259,000. TFS Capital LLC bought a new position in shares of Ring Energy during the second quarter worth approximately $273,000. Finally, Renaissance Technologies LLC bought a new position in shares of Ring Energy during the first quarter worth approximately $289,000.
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