Geode Capital Management LLC Buys 763,907 Shares of Ring Energy, Inc. (NYSEAMERICAN:REI)

Geode Capital Management LLC lifted its position in shares of Ring Energy, Inc. (NYSEAMERICAN:REI) by 34.6% in the third quarter, HoldingsChannel.com reports. The fund owned 2,970,929 shares of the company’s stock after buying an additional 763,907 shares during the period. Geode Capital Management LLC’s holdings in Ring Energy were worth $4,754,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of REI. CreativeOne Wealth LLC bought a new stake in Ring Energy during the 3rd quarter worth approximately $26,000. Ullmann Wealth Partners Group LLC increased its position in Ring Energy by 58.8% during the 3rd quarter. Ullmann Wealth Partners Group LLC now owns 20,469 shares of the company’s stock valued at $33,000 after purchasing an additional 7,583 shares during the period. Caprock Group LLC lifted its holdings in Ring Energy by 44.0% in the second quarter. Caprock Group LLC now owns 21,776 shares of the company’s stock valued at $37,000 after buying an additional 6,655 shares during the period. Catalina Capital Group LLC grew its stake in Ring Energy by 38.7% during the third quarter. Catalina Capital Group LLC now owns 36,530 shares of the company’s stock worth $58,000 after purchasing an additional 10,201 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Ring Energy in the 2nd quarter valued at $60,000. Institutional investors own 77.14% of the company’s stock.

Insider Activity at Ring Energy

In other Ring Energy news, major shareholder Warburg Pincus & Co Us, Llc sold 4,400,000 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 35,520,643 shares in the company, valued at $57,543,441.66. This represents a 11.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Ring Energy from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th.

Ring Energy Trading Up 2.9 %

Shares of REI opened at $1.44 on Monday. Ring Energy, Inc. has a 12-month low of $1.21 and a 12-month high of $2.20. The company has a current ratio of 0.54, a quick ratio of 0.49 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $285.41 million, a P/E ratio of 2.53 and a beta of 1.59.

Ring Energy (NYSEAMERICAN:REI) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. The firm had revenue of $89.24 million for 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, equities research analysts expect that Ring Energy, Inc. will post 0.34 EPS for the current fiscal year.

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.