UBS Group AG Sells 650,045 Shares of Ring Energy, Inc. $REI

UBS Group AG reduced its stake in shares of Ring Energy, Inc. (NYSEAMERICAN:REI) by 16.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,283,223 shares of the company’s stock after selling 650,045 shares during the period. UBS Group AG’s holdings in Ring Energy were worth $2,856,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Fund Management LLC purchased a new position in shares of Ring Energy in the 4th quarter worth approximately $26,000. SG Americas Securities LLC boosted its stake in shares of Ring Energy by 109.8% in the 4th quarter. SG Americas Securities LLC now owns 80,849 shares of the company’s stock worth $70,000 after buying an additional 42,320 shares during the last quarter. Van Den Berg Management I Inc. boosted its stake in shares of Ring Energy by 39.9% in the 3rd quarter. Van Den Berg Management I Inc. now owns 50,884 shares of the company’s stock worth $55,000 after buying an additional 14,523 shares during the last quarter. Centiva Capital LP purchased a new position in shares of Ring Energy in the 3rd quarter worth approximately $26,000. Finally, Bank of America Corp DE boosted its stake in shares of Ring Energy by 125.3% in the 3rd quarter. Bank of America Corp DE now owns 79,837 shares of the company’s stock worth $87,000 after buying an additional 44,394 shares during the last quarter. 77.14% of the stock is owned by institutional investors.

Ring Energy Price Performance

Shares of NYSEAMERICAN REI opened at $1.38 on Tuesday. Ring Energy, Inc. has a twelve month low of $0.72 and a twelve month high of $2.00. The stock’s 50 day moving average price is $1.50 and its 200-day moving average price is $1.22. The company has a market capitalization of $288.99 million, a PE ratio of -1.09 and a beta of 0.92. The company has a quick ratio of 0.36, a current ratio of 0.40 and a debt-to-equity ratio of 0.69.

Ring Energy (NYSEAMERICAN:REI) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. Ring Energy had a positive return on equity of 5.10% and a negative net margin of 87.63%.The business had revenue of $73.67 million for the quarter, compared to the consensus estimate of $69.90 million. On average, equities analysts anticipate that Ring Energy, Inc. will post 0.25 EPS for the current year.

Analyst Ratings Changes

Separately, Zacks Research upgraded Ring Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Strong Buy” and a consensus target price of $2.50.

Ring Energy Company Profile

Ring Energy, Inc is an independent oil and natural gas exploration and production company focused on the development, acquisition and operation of upstream assets in the United States. Headquartered in Odessa, Texas, the company concentrates its activities on onshore hydrocarbon plays, where it seeks to optimize production through technical innovation, cost management and disciplined capital allocation. Ring Energy trades on the NYSE American under the ticker symbol REI.

The company’s core operations are centered in the Permian Basin, one of North America’s most prolific oil-producing regions.