Ring Energy (NYSEAMERICAN:REI) Downgraded by StockNews.com to “Hold”

Ring Energy (NYSEAMERICAN:REI) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

Ring Energy Price Performance

Shares of Ring Energy stock traded down $0.19 during midday trading on Friday, reaching $1.55. 3,181,680 shares of the company’s stock traded hands, compared to its average volume of 1,794,996. Ring Energy has a 12 month low of $1.25 and a 12 month high of $2.20. The company has a quick ratio of 0.45, a current ratio of 0.50 and a debt-to-equity ratio of 0.50. The company has a market cap of $307.16 million, a PE ratio of 2.72 and a beta of 1.63.

Ring Energy (NYSEAMERICAN:REI) last issued its earnings results on Tuesday, August 6th. The company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $99.14 million for the quarter, compared to the consensus estimate of $98.29 million. Ring Energy had a return on equity of 9.36% and a net margin of 29.44%. As a group, equities research analysts forecast that Ring Energy will post 0.33 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Warburg Pincus & Co Us, Llc sold 4,400,000 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $1.62, for a total transaction of $7,128,000.00. Following the completion of the transaction, the insider now directly owns 35,520,643 shares in the company, valued at $57,543,441.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ring Energy

Several institutional investors have recently modified their holdings of REI. Vanguard Group Inc. grew its holdings in Ring Energy by 26.5% during the first 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 during the period. American Century Companies Inc. increased its position in Ring Energy by 42.6% during the 2nd quarter. American Century Companies Inc. now owns 1,967,501 shares of the company’s stock worth $3,325,000 after purchasing an additional 587,690 shares in the last quarter. Renaissance Technologies LLC lifted its position in Ring Energy by 50.4% during 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 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 worth $409,000 after acquiring an additional 193,474 shares during the last quarter. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Ring Energy in the 2nd quarter valued at about $323,000. Institutional investors and hedge funds 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.