R Squared Ltd Invests $41,000 in Ring Energy, Inc. (NYSEAMERICAN:REI)

R Squared Ltd acquired a new position in Ring Energy, Inc. (NYSEAMERICAN:REI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 30,260 shares of the company’s stock, valued at approximately $41,000.

Other institutional investors have also made changes to their positions in the company. CreativeOne Wealth LLC acquired a new position in shares of Ring Energy in the third quarter valued at $26,000. Ullmann Wealth Partners Group LLC increased its holdings in shares of Ring Energy by 58.8% in the third quarter. Ullmann Wealth Partners Group LLC now owns 20,469 shares of the company’s stock valued at $33,000 after purchasing an additional 7,583 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Ring Energy in the third quarter valued at $39,000. Catalina Capital Group LLC increased its holdings in shares of Ring Energy by 38.7% in the third quarter. Catalina Capital Group LLC now owns 36,530 shares of the company’s stock valued at $58,000 after purchasing an additional 10,201 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Ring Energy in the second quarter valued at $60,000. Institutional investors own 77.14% of the company’s stock.

Analysts Set New Price Targets

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

Ring Energy Stock Performance

REI stock opened at $1.30 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.49 and a current ratio of 0.54. Ring Energy, Inc. has a 52 week low of $1.21 and a 52 week high of $2.20. The stock has a market capitalization of $257.66 million, a P/E ratio of 2.28 and a beta of 1.58.

Ring Energy (NYSEAMERICAN:REI) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. Ring Energy had a net margin of 29.44% and a return on equity of 9.21%. The business had revenue of $89.24 million for the quarter, compared to the consensus estimate of $83.27 million. As a group, analysts anticipate that Ring Energy, Inc. will post 0.33 earnings per share for the current year.

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.