Ring Energy Inc (REI) is Reiterated by Wunderlich to Buy, Raises Price Target to $ 9

Ring Energy Inc (REI) was Reiterated by Wunderlich to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 9 from a previous price target of $8 . Wunderlich advised their investors in a research report released on May 12, 2016.

Ring Energy Inc opened for trading at $7 and hit $7 on the upside on Tuesday, eventually ending the session at $6.87, with a gain of 5.37% or 0.35 points. The heightened volatility saw the trading volume jump to 2,40,840 shares. Company has a market cap of $209 M.

In a different news, on Oct 16, 2015, David A. Fowler (President) sold 13,000 shares at $10.26 per share price. According to the SEC, on Mar 26, 2015, Kelly W. Hoffman (CEO) sold 20,000 shares at $10.14 per share price.

Ring Energy Inc. (Ring) is an exploration and production company. The Company is engaged in oil and natural gas acquisition exploration development and production activities. As of December 31 2014 the Company’s exploration and production interests were focused in Texas and Kansas. The Company’s primary drilling operations target the Central Basin Platform in Andrews County and Gaines County Texas. As of December 31 2014 Ring had 29738 gross (17270 net) acres in the counties of Texas. As of December 31 2014 Ring owned interests in a total of 5835 gross (5129 net) developed acres and 23903 gross (12141 net) undeveloped acres in Texas. As of December 31 2014 the Company also had 18277 gross (17017 net) acres in Kansas located is located in Gray Finney and Haskell counties. As of December 31 2014 Ring’s proved reserves were 10.4 million barrels of oil equivalent (BOE) with 98% consisting of oil and 2% consisting of natural gas.

Ring Energy Inc

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