Ring Energy (REI) Research Coverage Started at KLR Group

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

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

Ring Energy (NYSEAMERICAN REI) opened at $15.70 on Thursday. Ring Energy has a one year low of $9.22 and a one year high of $15.92. The company has a market capitalization of $850.31, a P/E ratio of 142.73 and a beta of 0.79.

In related news, CEO Kelly W. Hoffman sold 51,238 shares of Ring Energy stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $13.79, for a total transaction of $706,572.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO William Randall Broaddrick sold 75,000 shares of Ring Energy stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $14.02, for a total value of $1,051,500.00. Following the sale, the chief financial officer now directly owns 50,000 shares of the company’s stock, valued at $701,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 262,724 shares of company stock valued at $3,727,430.

A hedge fund recently raised its stake in Ring Energy stock. Dalton Greiner Hartman Maher & Co. raised its stake in Ring Energy Inc (NYSEAMERICAN:REI) by 44.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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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About Ring Energy

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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