StockNews.com upgraded shares of Ring Energy (NYSEAMERICAN:REI – Free Report) 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.
See Also
- Five stocks we like better than Ring Energy
- Consumer Staples Stocks, Explained
- Why Wall Street Analysts Raised Price Targets for Suncor Stock
- 3 Tickers Leading a Meme Stock Revival
- Is Super Micro Computer a Buy After Shares Sink 20% on Earnings?
- Industrial Products Stocks Investing
- MarketBeat Week in Review – 8/5 – 8/9
Receive News & Ratings for Ring Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ring Energy and related companies with MarketBeat.com's FREE daily email newsletter.