Ring Energy (NYSE:REI) was the target of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 5,637,549 shares, a decline of 1.0% from the July 14th total of 5,694,684 shares. Approximately 11.2% of the shares of the company are sold short. Based on an average daily volume of 816,237 shares, the short-interest ratio is currently 6.9 days.
Shares of Ring Energy (NYSE REI) opened at 13.59 on Thursday. The company’s market capitalization is $668.17 million. Ring Energy has a 52 week low of $8.58 and a 52 week high of $14.14. The firm has a 50 day moving average price of $12.65 and a 200 day moving average price of $12.35.
Ring Energy (NYSE:REI) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.04 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.04. The business had revenue of $14.50 million for the quarter, compared to the consensus estimate of $14.20 million. Equities analysts forecast that Ring Energy will post $0.18 EPS for the current year.
A number of large investors have recently bought and sold shares of REI. State Street Corp boosted its stake in Ring Energy by 8.2% in the fourth quarter. State Street Corp now owns 598,772 shares of the company’s stock worth $7,777,000 after buying an additional 45,396 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Ring Energy by 55.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 444,867 shares of the company’s stock worth $5,779,000 after buying an additional 158,775 shares in the last quarter. Teachers Advisors LLC boosted its stake in Ring Energy by 31.5% in the fourth quarter. Teachers Advisors LLC now owns 74,490 shares of the company’s stock worth $968,000 after buying an additional 17,828 shares in the last quarter. Fisher Asset Management LLC acquired a new stake in Ring Energy during the first quarter worth approximately $1,375,000. Finally, Wells Fargo & Company MN boosted its stake in Ring Energy by 50.1% in the first quarter. Wells Fargo & Company MN now owns 35,976 shares of the company’s stock worth $390,000 after buying an additional 12,000 shares in the last quarter.
REI has been the topic of several research analyst reports. Ladenburg Thalmann Financial Services reissued a “buy” rating and issued a $17.00 price objective (up previously from $15.00) on shares of Ring Energy in a research report on Saturday, April 22nd. Zacks Investment Research raised Ring Energy from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Roth Capital set a $19.00 price objective on Ring Energy and gave the stock a “buy” rating in a research report on Monday, April 17th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Ring Energy has a consensus rating of “Buy” and an average target price of $16.79.
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