Ring Energy (NYSEAMERICAN:REI) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Ring Energy (NYSEAMERICAN:REI) from a hold rating to a buy rating in a report published on Friday morning.

Ring Energy Price Performance

Shares of NYSEAMERICAN REI opened at $1.77 on Friday. The firm has a market cap of $350.35 million, a PE ratio of 4.43 and a beta of 1.70. Ring Energy has a twelve month low of $1.25 and a twelve month high of $2.20. The company has a current ratio of 0.50, a quick ratio of 0.45 and a debt-to-equity ratio of 0.53.

Institutional Investors Weigh In On Ring Energy

Institutional investors have recently added to or reduced their stakes in the stock. Delap Wealth Advisory LLC bought a new stake in Ring Energy in the 1st quarter valued at $27,000. Choreo LLC acquired a new stake in Ring Energy in the 1st quarter valued at $29,000. Caprock Group LLC acquired a new stake in Ring Energy in the 1st quarter valued at $30,000. McAdam LLC acquired a new stake in Ring Energy in the 1st quarter valued at $30,000. Finally, CreativeOne Wealth LLC acquired a new stake in Ring Energy in the 1st quarter valued at $31,000. 77.14% of the stock is owned by institutional investors.

About Ring Energy

Ring Energy, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties. The company has interests in 56,711 net developed acres and 2,668 net undeveloped acres in Andrews, Gaines, Crane, Ector, Winkler, and Ward counties, Texas; and 8,751 net developed acres and 12,405 net undeveloped acres in Yoakum County, Texas and Lea County, New Mexico.