Ring Energy (NYSEAMERICAN:REI) Rating Lowered to “Hold” at StockNews.com

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

Ring Energy Stock Up 1.9 %

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

Ring Energy (NYSEAMERICAN:REI) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates 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, research analysts expect that Ring Energy will post 0.33 EPS for the current year.

Insider Activity at Ring Energy

In related news, major shareholder Warburg Pincus & Co Us, Llc sold 4,400,000 shares of Ring Energy stock in a transaction dated 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 sale, the insider now owns 35,520,643 shares of the company’s stock, valued at approximately $57,543,441.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ring Energy

Several institutional investors have recently made changes to their positions in REI. Intech Investment Management LLC acquired a new position in Ring Energy during the third quarter valued at approximately $96,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Ring Energy by 43.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 139,960 shares of the company’s stock worth $224,000 after buying an additional 42,103 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Ring Energy by 18.9% during the 3rd quarter. Empowered Funds LLC now owns 686,254 shares of the company’s stock worth $1,098,000 after buying an additional 109,074 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Ring Energy by 22.4% during the 3rd quarter. Victory Capital Management Inc. now owns 119,079 shares of the company’s stock worth $191,000 after buying an additional 21,801 shares during the last quarter. Finally, Atria Investments Inc acquired a new stake in Ring Energy in the third quarter valued at about $230,000. 77.14% of the stock is currently owned by institutional investors.

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.