Ring Energy Inc (NYSEAMERICAN:REI) was the target of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 3,835,463 shares, a decrease of 21.9% from the February 15th total of 4,909,145 shares. Based on an average daily trading volume, of 1,296,369 shares, the short-interest ratio is currently 3.0 days. Currently, 15.0% of the shares of the company are sold short.
A number of brokerages recently commented on REI. B. Riley set a $20.00 price target on shares of Ring Energy and gave the company a “buy” rating in a research note on Tuesday, March 20th. Roth Capital set a $22.00 target price on shares of Ring Energy and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Zacks Investment Research lowered shares of Ring Energy from a “strong-buy” rating to a “hold” rating in a research report on Saturday, January 13th. KLR Group initiated coverage on shares of Ring Energy in a research report on Thursday, January 11th. They set a “buy” rating on the stock. Finally, Northland Securities set a $18.00 target price on shares of Ring Energy and gave the stock a “buy” rating in a research report on Monday, December 11th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $18.75.
Shares of NYSEAMERICAN:REI traded up $0.10 on Monday, reaching $14.35. 470,200 shares of the company’s stock were exchanged, compared to its average volume of 845,395. Ring Energy has a twelve month low of $9.93 and a twelve month high of $16.09.
Several large investors have recently made changes to their positions in the business. UBS Asset Management Americas Inc. lifted its holdings in shares of Ring Energy by 73.1% during the 4th quarter. UBS Asset Management Americas Inc. now owns 17,995 shares of the company’s stock worth $250,000 after acquiring an additional 7,600 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Ring Energy by 7.0% during the 4th quarter. Victory Capital Management Inc. now owns 132,282 shares of the company’s stock worth $1,839,000 after acquiring an additional 8,620 shares during the period. Ranger Investment Management L.P. lifted its holdings in shares of Ring Energy by 6.8% during the 4th quarter. Ranger Investment Management L.P. now owns 179,625 shares of the company’s stock worth $2,497,000 after acquiring an additional 11,490 shares during the period. Jefferies Group LLC bought a new stake in shares of Ring Energy during the 4th quarter worth approximately $229,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Ring Energy during the 4th quarter worth approximately $238,000.
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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.
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