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

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

Ring Energy Stock Down 0.6 %

REI stock opened at $1.53 on Thursday. The stock has a market cap of $303.25 million, a P/E ratio of 2.70 and a beta of 1.63. Ring Energy has a 12 month low of $1.25 and a 12 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 0.49.

Ring Energy (NYSEAMERICAN:REI) last announced its earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. Ring Energy had a return on equity of 9.21% and a net margin of 29.44%. The business had revenue of $89.24 million during the quarter, compared to analyst estimates of $83.27 million. As a group, research analysts forecast that Ring Energy will post 0.33 earnings per share for the current fiscal year.

Insider Transactions at Ring Energy

In other Ring Energy news, major shareholder Warburg Pincus & Co Us, Llc sold 4,400,000 shares of the firm’s 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 transaction, the insider now owns 35,520,643 shares of the company’s stock, valued at approximately $57,543,441.66. This trade represents a 11.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Ring Energy

Several institutional investors have recently bought and sold shares of REI. Vanguard Group Inc. boosted its holdings in shares of Ring Energy by 26.5% in the 1st quarter. Vanguard Group Inc. now owns 5,068,526 shares of the company’s stock valued at $9,934,000 after acquiring an additional 1,062,654 shares during the last quarter. American Century Companies Inc. lifted its position in Ring Energy by 42.6% during the second quarter. American Century Companies Inc. now owns 1,967,501 shares of the company’s stock valued at $3,325,000 after purchasing an additional 587,690 shares during the period. Renaissance Technologies LLC grew 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 purchasing an additional 264,010 shares during the period. XTX Topco Ltd raised its stake in shares of Ring Energy by 399.8% during the 2nd quarter. XTX Topco Ltd now owns 241,869 shares of the company’s stock valued at $409,000 after buying an additional 193,474 shares during the last quarter. Finally, Panagora Asset Management Inc. purchased a new position in shares of Ring Energy during the 2nd quarter valued at about $323,000. 77.14% of the stock is currently owned by institutional investors and hedge funds.

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.