Ring Energy (NYSEAMERICAN:REI) Upgraded at Zacks Research

Zacks Research upgraded shares of Ring Energy (NYSEAMERICAN:REI) to a hold rating in a report published on Tuesday,Zacks.com reports.

Ring Energy Stock Performance

Ring Energy stock opened at $1.00 on Tuesday. The firm has a market capitalization of $207.22 million, a P/E ratio of -14.28 and a beta of 0.85. The stock has a fifty day moving average price of $0.91 and a two-hundred day moving average price of $0.93. Ring Energy has a 52-week low of $0.72 and a 52-week high of $1.45. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.55 and a quick ratio of 0.50.

Ring Energy (NYSEAMERICAN:REI) last issued its earnings results on Thursday, November 6th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. The company had revenue of $78.60 million for the quarter, compared to the consensus estimate of $83.20 million. Ring Energy had a negative net margin of 5.01% and a positive return on equity of 6.07%. As a group, analysts anticipate that Ring Energy will post 0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC increased its holdings in Ring Energy by 32.8% during the 3rd quarter. Barclays PLC now owns 8,000,090 shares of the company’s stock valued at $8,720,000 after purchasing an additional 1,975,000 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Ring Energy by 18.0% during the third quarter. Vanguard Group Inc. now owns 10,613,683 shares of the company’s stock worth $11,569,000 after purchasing an additional 1,617,668 shares during the last quarter. Two Sigma Investments LP increased its stake in shares of Ring Energy by 342.4% in the third quarter. Two Sigma Investments LP now owns 1,849,178 shares of the company’s stock valued at $2,016,000 after buying an additional 1,431,162 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Ring Energy by 22.5% in the second quarter. Ameriprise Financial Inc. now owns 6,051,151 shares of the company’s stock valued at $4,805,000 after buying an additional 1,109,514 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Ring Energy by 28.6% in the first quarter. AQR Capital Management LLC now owns 3,350,472 shares of the company’s stock valued at $3,853,000 after buying an additional 744,284 shares during the last quarter. 77.14% of the stock is owned by institutional investors and hedge funds.

About Ring Energy

Ring Energy, Inc is an independent oil and natural gas exploration and production company focused on the development, acquisition and operation of upstream assets in the United States. Headquartered in Odessa, Texas, the company concentrates its activities on onshore hydrocarbon plays, where it seeks to optimize production through technical innovation, cost management and disciplined capital allocation. Ring Energy trades on the NYSE American under the ticker symbol REI.

The company’s core operations are centered in the Permian Basin, one of North America’s most prolific oil-producing regions.