Ring Energy (NYSEAMERICAN:REI) Raised to “Hold” at Zacks Research

Ring Energy (NYSEAMERICAN:REI) was upgraded by research analysts at Zacks Research to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Ring Energy Stock Performance

Shares of NYSEAMERICAN REI opened at $0.98 on Tuesday. The company has a market capitalization of $203.70 million, a PE ratio of -14.04 and a beta of 0.85. Ring Energy has a 1 year low of $0.72 and a 1 year high of $1.45. The company’s fifty day moving average price is $0.91 and its 200 day moving average price is $0.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.50 and a current ratio of 0.55.

Ring Energy (NYSEAMERICAN:REI) last announced its earnings results on Thursday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $78.60 million for the quarter, compared to analyst estimates of $83.20 million. Ring Energy had a positive return on equity of 6.07% and a negative net margin of 5.01%. On average, research analysts predict that Ring Energy will post 0.33 earnings per share for the current year.

Hedge Funds Weigh In On Ring Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Yale University acquired a new stake in Ring Energy in the 3rd quarter valued at about $13,807,000. Centiva Capital LP purchased a new position in Ring Energy during the third quarter worth approximately $26,000. Barry Investment Advisors LLC boosted its stake in Ring Energy by 150.0% during the third quarter. Barry Investment Advisors LLC now owns 25,000 shares of the company’s stock worth $27,000 after buying an additional 15,000 shares during the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in Ring Energy in the 3rd quarter valued at $31,000. Finally, Royal Fund Management LLC acquired a new stake in shares of Ring Energy in the 4th quarter worth $26,000. 77.14% of the stock is currently owned by institutional investors and hedge funds.

About Ring Energy

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.