Ring Energy, Inc. (NYSEAMERICAN:REI) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC trimmed its holdings in shares of Ring Energy, Inc. (NYSEAMERICAN:REI) by 66.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 64,775 shares of the company’s stock after selling 129,002 shares during the quarter. Verition Fund Management LLC’s holdings in Ring Energy were worth $104,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. American Century Companies Inc. increased its position in Ring Energy by 42.6% in the second quarter. American Century Companies Inc. now owns 1,967,501 shares of the company’s stock worth $3,325,000 after buying an additional 587,690 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Ring Energy by 50.4% in the 2nd quarter. Renaissance Technologies LLC now owns 787,600 shares of the company’s stock worth $1,331,000 after acquiring an additional 264,010 shares during the period. XTX Topco Ltd lifted its position in Ring Energy by 399.8% in the 2nd quarter. XTX Topco Ltd now owns 241,869 shares of the company’s stock valued at $409,000 after purchasing an additional 193,474 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in Ring Energy during the 2nd quarter valued at about $323,000. Finally, Privium Fund Management UK Ltd bought a new position in Ring Energy in the 2nd quarter worth about $262,000. Institutional investors and hedge funds own 77.14% of the company’s stock.

Insider Buying and Selling at Ring Energy

In other news, major shareholder Warburg Pincus & Co Us, Llc sold 6,200,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $1.64, for a total value of $10,168,000.00. Following the completion of the sale, the insider now directly owns 39,920,643 shares in the company, valued at approximately $65,469,854.52. The trade was a 13.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Ring Energy Stock Down 4.7 %

NYSEAMERICAN:REI opened at $1.33 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.49 and a current ratio of 0.54. The stock has a market cap of $262.62 million, a price-to-earnings ratio of 2.32 and a beta of 1.59. Ring Energy, Inc. has a fifty-two week low of $1.25 and a fifty-two week high of $2.20.

Ring Energy (NYSEAMERICAN:REI) last released its quarterly earnings data 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 return on equity of 9.21% and a net margin of 29.44%. The firm had revenue of $89.24 million during the quarter, compared to analysts’ expectations of $83.27 million. As a group, research analysts expect that Ring Energy, Inc. will post 0.34 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Ring Energy from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th.

Ring Energy 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.