StockNews.com Downgrades Ring Energy (NYSEAMERICAN:REI) to Hold

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

Ring Energy Stock Down 10.9 %

Shares of NYSEAMERICAN REI traded down $0.19 during mid-day trading on Friday, hitting $1.55. The company’s stock had a trading volume of 3,181,680 shares, compared to its average volume of 1,794,996. The company has a current ratio of 0.50, a quick ratio of 0.45 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $307.16 million, a PE ratio of 2.72 and a beta of 1.63. Ring Energy has a one year low of $1.25 and a one year high of $2.20.

Ring Energy (NYSEAMERICAN:REI) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. Ring Energy had a return on equity of 9.36% and a net margin of 29.44%. The business had revenue of $99.14 million during the quarter, compared to the consensus estimate of $98.29 million. Equities analysts expect that Ring Energy will post 0.33 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Warburg Pincus & Co Us, Llc sold 4,400,000 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 35,520,643 shares in the company, valued at approximately $57,543,441.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Ring Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Ring Energy by 26.5% during the first quarter. Vanguard Group Inc. now owns 5,068,526 shares of the company’s stock worth $9,934,000 after buying an additional 1,062,654 shares during the period. Bleakley Financial Group LLC raised its holdings in Ring Energy by 49.0% in the 1st quarter. Bleakley Financial Group LLC now owns 112,788 shares of the company’s stock valued at $221,000 after acquiring an additional 37,075 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in Ring Energy in the first quarter valued at $47,000. CWM LLC boosted its holdings in Ring Energy by 448.3% during the 2nd quarter. CWM LLC now owns 23,367 shares of the company’s stock valued at $39,000 after acquiring an additional 19,105 shares during the period. Finally, American Century Companies Inc. increased its holdings 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 purchasing an additional 587,690 shares during the period. 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.