Empowered Funds LLC Acquires New Position in Ring Energy, Inc. $REI

Empowered Funds LLC acquired a new stake in shares of Ring Energy, Inc. (NYSEAMERICAN:REI) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 1,256,228 shares of the company’s stock, valued at approximately $1,357,000.

A number of other large investors also recently bought and sold shares of the company. Centiva Capital LP acquired a new position in shares of Ring Energy in the 3rd quarter worth approximately $26,000. DGS Capital Management LLC raised its position in shares of Ring Energy by 65.4% during the 4th quarter. DGS Capital Management LLC now owns 31,196 shares of the company’s stock valued at $27,000 after acquiring an additional 12,331 shares in the last quarter. HRT Financial LP bought a new position in Ring Energy during the fourth quarter worth $31,000. Jump Financial LLC acquired a new position in Ring Energy in the second quarter worth $31,000. Finally, Jefferies Financial Group Inc. increased its stake in Ring Energy by 90.0% during the fourth quarter. Jefferies Financial Group Inc. now owns 36,861 shares of the company’s stock valued at $32,000 after purchasing an additional 17,461 shares during the last quarter. Institutional investors own 77.14% of the company’s stock.

Wall Street Analysts Forecast Growth

REI has been the topic of a number of recent research reports. Zacks Research downgraded shares of Ring Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 26th. Bank of America started coverage on shares of Ring Energy in a report on Wednesday, July 15th. They issued a “buy” rating and a $2.00 target price on the stock. Finally, Mizuho started coverage on Ring Energy in a research note on Wednesday. They issued a “neutral” rating and a $2.00 target price for the company. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $2.00.

Insider Buying and Selling at Ring Energy

In other news, EVP Sundip Singh Johl acquired 231,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average price of $1.21 per share, with a total value of $279,510.00. Following the purchase, the executive vice president owned 548,460 shares of the company’s stock, valued at approximately $663,636.60. This trade represents a 72.77% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Paul D. Mckinney bought 50,000 shares of Ring Energy stock in a transaction dated Monday, June 15th. The stock was acquired at an average price of $1.19 per share, with a total value of $59,500.00. Following the acquisition, the chief executive officer directly owned 4,158,463 shares of the company’s stock, valued at approximately $4,948,570.97. This represents a 1.22% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 3.50% of the company’s stock.

Ring Energy Stock Performance

Shares of REI stock opened at $1.50 on Friday. Ring Energy, Inc. has a 12-month low of $0.83 and a 12-month high of $2.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.54 and a quick ratio of 0.49. The firm has a market capitalization of $390.78 million, a price-to-earnings ratio of -1.36, a price-to-earnings-growth ratio of 0.32 and a beta of 0.83. The business has a 50 day simple moving average of $1.29 and a 200 day simple moving average of $1.37.

Ring Energy (NYSEAMERICAN:REI) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. Ring Energy had a negative net margin of 68.02% and a positive return on equity of 5.55%. The company had revenue of $104.68 million for the quarter, compared to the consensus estimate of $93.29 million. On average, equities research analysts anticipate that Ring Energy, Inc. will post 0.11 EPS for the current year.

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.