Ring Energy (NYSEAMERICAN:REI) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Ring Energy (NYSEAMERICAN:REI) from a buy rating to a hold rating in a research report sent to investors on Thursday.

Ring Energy Stock Down 0.6 %

Shares of NYSEAMERICAN:REI opened at $1.53 on Thursday. The company has a market cap of $303.25 million, a price-to-earnings ratio of 2.68 and a beta of 1.63. Ring Energy has a 1-year low of $1.25 and a 1-year high of $2.20. The company has a current ratio of 0.54, a quick ratio of 0.49 and a debt-to-equity ratio of 0.46.

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

Insider Buying and Selling

In other Ring Energy news, major shareholder Warburg Pincus & Co Us, Llc sold 4,400,000 shares of Ring Energy stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $1.62, for a total value of $7,128,000.00. Following the sale, the insider now directly owns 35,520,643 shares in the company, valued at approximately $57,543,441.66. The trade was a 11.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. CreativeOne Wealth LLC purchased a new position in shares of Ring Energy in the third quarter valued at $26,000. Delap Wealth Advisory LLC purchased a new position in shares of Ring Energy in the 1st quarter worth $27,000. Walleye Trading LLC increased its holdings in shares of Ring Energy by 255.9% in the 1st quarter. Walleye Trading LLC now owns 16,213 shares of the company’s stock worth $32,000 after buying an additional 26,613 shares during the last quarter. Ullmann Wealth Partners Group LLC raised its position in shares of Ring Energy by 58.8% during the 3rd quarter. Ullmann Wealth Partners Group LLC now owns 20,469 shares of the company’s stock valued at $33,000 after buying an additional 7,583 shares in the last quarter. Finally, Caprock Group LLC lifted its holdings in shares of Ring Energy by 44.0% in the 2nd quarter. Caprock Group LLC now owns 21,776 shares of the company’s stock valued at $37,000 after acquiring an additional 6,655 shares during the last quarter. Institutional investors own 77.14% of the company’s stock.

About Ring Energy

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.