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

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

Ring Energy Trading Up 1.9 %

Shares of NYSEAMERICAN:REI opened at $1.58 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 0.46. Ring Energy has a 52 week low of $1.25 and a 52 week high of $2.20. The firm has a market cap of $313.16 million, a PE ratio of 2.77 and a beta of 1.63.

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

Insider Activity

In other Ring Energy news, major shareholder Warburg Pincus & Co Us, Llc sold 6,200,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $1.64, for a total transaction of $10,168,000.00. Following the transaction, the insider now directly owns 39,920,643 shares in the company, valued at approximately $65,469,854.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in REI. Vanguard Group Inc. grew its stake in shares of Ring Energy by 26.5% in the 1st quarter. Vanguard Group Inc. now owns 5,068,526 shares of the company’s stock worth $9,934,000 after acquiring an additional 1,062,654 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Ring Energy by 42.6% in the 2nd 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 last quarter. Renaissance Technologies LLC grew its holdings in shares of Ring Energy by 50.4% in the second quarter. Renaissance Technologies LLC now owns 787,600 shares of the company’s stock valued at $1,331,000 after acquiring an additional 264,010 shares in the last quarter. XTX Topco Ltd increased its position in shares of Ring Energy by 399.8% during the second quarter. XTX Topco Ltd now owns 241,869 shares of the company’s stock valued at $409,000 after acquiring an additional 193,474 shares during the last quarter. Finally, Panagora Asset Management Inc. bought a new stake in Ring Energy during the second quarter worth $323,000. 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.