Ring Energy (NYSEAMERICAN:REI) Lowered to Hold Rating by StockNews.com

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

Ring Energy Stock Performance

Ring Energy stock opened at $1.52 on Thursday. The stock has a market cap of $301.26 million, a P/E ratio of 2.67 and a beta of 1.63. Ring Energy has a 52 week low of $1.25 and a 52 week 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 0.49.

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 firm had revenue of $89.24 million during the quarter, compared to analysts’ expectations of $83.27 million. Ring Energy had a return on equity of 9.21% and a net margin of 29.44%. As a group, equities research analysts expect that Ring Energy will post 0.33 earnings per share for the current year.

Insider Buying and Selling at Ring Energy

In other Ring Energy 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 stock was sold at an average price of $1.62, for a total value of $7,128,000.00. Following the completion of the sale, the insider now owns 35,520,643 shares in the company, valued at $57,543,441.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is owned by company insiders.

Institutional Trading of Ring Energy

A number of institutional investors have recently modified their holdings of REI. Vanguard Group Inc. grew its holdings in shares of Ring Energy by 26.5% during the 1st quarter. Vanguard Group Inc. now owns 5,068,526 shares of the company’s stock worth $9,934,000 after purchasing an additional 1,062,654 shares during the period. American Century Companies Inc. lifted 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 acquiring 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 lifted its position in Ring Energy by 399.8% during the 2nd quarter. XTX Topco Ltd now owns 241,869 shares of the company’s stock worth $409,000 after acquiring an additional 193,474 shares in the last quarter. Finally, Panagora Asset Management Inc. acquired a new position in Ring Energy during the 2nd quarter worth approximately $323,000. Hedge funds and other institutional investors own 77.14% of the company’s stock.

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.