Ring Energy (NYSEAMERICAN:REI) Cut to Hold at StockNews.com

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

Ring Energy Price Performance

Shares of Ring Energy stock opened at $1.53 on Thursday. Ring Energy has a 12 month low of $1.25 and a 12 month high of $2.20. The firm has a market cap of $303.25 million, a price-to-earnings ratio of 2.68 and a beta of 1.63. The company has a quick ratio of 0.49, a current ratio of 0.54 and a debt-to-equity ratio of 0.46.

Ring Energy (NYSEAMERICAN:REI) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Ring Energy had a net margin of 29.44% and a return on equity of 9.21%. The company had revenue of $89.24 million during the quarter, compared to analysts’ expectations of $83.27 million. On average, sell-side analysts anticipate that Ring Energy will post 0.33 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Warburg Pincus & Co Us, Llc sold 4,400,000 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $1.62, for a total transaction of $7,128,000.00. Following the sale, the insider now directly owns 35,520,643 shares of the company’s stock, valued at $57,543,441.66. This trade represents a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Ring Energy

A number of large investors have recently added to or reduced their stakes in REI. Vanguard Group Inc. increased its position in shares of Ring Energy by 26.5% during the 1st quarter. Vanguard Group Inc. now owns 5,068,526 shares of the company’s stock valued at $9,934,000 after purchasing an additional 1,062,654 shares during the last quarter. AQR Capital Management LLC increased its holdings in Ring Energy by 4.0% during the second quarter. AQR Capital Management LLC now owns 3,574,169 shares of the company’s stock valued at $6,040,000 after buying an additional 136,109 shares during the last quarter. Geode Capital Management LLC raised its position in Ring Energy by 34.6% in the third quarter. Geode Capital Management LLC now owns 2,970,929 shares of the company’s stock worth $4,754,000 after acquiring an additional 763,907 shares during the period. State Street Corp boosted its stake in shares of Ring Energy by 0.6% during the 3rd quarter. State Street Corp now owns 2,398,808 shares of the company’s stock worth $3,838,000 after acquiring an additional 13,495 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Ring Energy by 42.6% during the 2nd quarter. American Century Companies Inc. now owns 1,967,501 shares of the company’s stock valued at $3,325,000 after acquiring an additional 587,690 shares during the period. Institutional investors own 77.14% of the company’s stock.

Ring Energy Company Profile

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.