De Lisle Partners LLP Purchases Shares of 1,129,569 Ring Energy, Inc. $REI

De Lisle Partners LLP purchased a new position in Ring Energy, Inc. (NYSEAMERICAN:REI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,129,569 shares of the company’s stock, valued at approximately $1,226,000.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Ring Energy during the second quarter valued at about $13,053,000. Vanguard Group Inc. grew its stake in shares of Ring Energy by 18.0% in 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. Barclays PLC grew its stake in shares of Ring Energy by 32.8% in the third quarter. Barclays PLC now owns 8,000,090 shares of the company’s stock worth $8,720,000 after purchasing an additional 1,975,000 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Ring Energy by 22.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,051,151 shares of the company’s stock valued at $4,805,000 after purchasing an additional 1,109,514 shares during the period. Finally, UBS Group AG increased its holdings in Ring Energy by 16.9% during the 3rd quarter. UBS Group AG now owns 3,933,268 shares of the company’s stock valued at $4,287,000 after purchasing an additional 569,626 shares during the period. Hedge funds and other institutional investors own 77.14% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on REI shares. Bank of America initiated coverage on Ring Energy in a research report on Wednesday, July 15th. They set a “buy” rating and a $2.00 price target for the company. Zacks Research cut Ring Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Ring Energy currently has an average rating of “Moderate Buy” and a consensus price target of $2.00.

Insider Activity at Ring Energy

In other news, EVP Sundip Singh Johl bought 231,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was purchased at an average price of $1.21 per share, with a total value of $279,510.00. Following the transaction, the executive vice president owned 548,460 shares of the company’s stock, valued at approximately $663,636.60. The trade was a 72.77% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul D. Mckinney bought 50,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was purchased at an average cost of $1.19 per share, with a total value of $59,500.00. Following the transaction, the chief executive officer directly owned 4,158,463 shares in the company, valued at approximately $4,948,570.97. This represents a 1.22% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 3.50% of the company’s stock.

Ring Energy Price Performance

Shares of NYSEAMERICAN REI opened at $1.48 on Monday. The company has a current ratio of 0.54, a quick ratio of 0.49 and a debt-to-equity ratio of 0.48. Ring Energy, Inc. has a 12 month low of $0.83 and a 12 month high of $2.00. The firm has a market capitalization of $385.57 million, a PE ratio of -1.35, a price-to-earnings-growth ratio of 0.32 and a beta of 0.79. The firm has a fifty day simple moving average of $1.22 and a two-hundred day simple moving average of $1.35.

Ring Energy (NYSEAMERICAN:REI) last announced its earnings results on Wednesday, August 5th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Ring Energy had a negative net margin of 68.02% and a positive return on equity of 5.55%. The firm had revenue of $104.68 million for the quarter, compared to analyst estimates of $93.29 million. Equities analysts expect that Ring Energy, Inc. will post 0.11 earnings per share for the current year.

Ring Energy Profile

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.