Stratos Wealth Advisors LLC Cuts Position in Ring Energy, Inc. (NYSEAMERICAN:REI)

Stratos Wealth Advisors LLC reduced its stake in shares of Ring Energy, Inc. (NYSEAMERICAN:REI) by 25.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,000 shares of the company’s stock after selling 10,000 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Ring Energy were worth $48,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Delap Wealth Advisory LLC acquired a new stake in Ring Energy in the first quarter valued at approximately $27,000. Choreo LLC purchased a new position in Ring Energy during the 1st quarter worth $29,000. Caprock Group LLC acquired a new position in Ring Energy during the 1st quarter valued at about $30,000. CreativeOne Wealth LLC purchased a new stake in Ring Energy in the first quarter valued at about $31,000. Finally, Walleye Trading LLC boosted its holdings in Ring Energy by 255.9% in the first quarter. Walleye Trading LLC now owns 16,213 shares of the company’s stock worth $32,000 after acquiring an additional 26,613 shares in the last quarter. 77.14% of the stock is currently owned by hedge funds and other institutional investors.

Ring Energy Trading Down 2.0 %

NYSEAMERICAN REI opened at $1.49 on Thursday. The stock has a market cap of $295.27 million, a price-to-earnings ratio of 4.13 and a beta of 1.61. The company has a quick ratio of 0.45, a current ratio of 0.50 and a debt-to-equity ratio of 0.50. Ring Energy, Inc. has a fifty-two week low of $1.25 and a fifty-two week high of $2.20.

Ring Energy (NYSEAMERICAN:REI) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. Ring Energy had a net margin of 18.41% and a return on equity of 10.94%. The business had revenue of $99.14 million for the quarter, compared to analysts’ expectations of $98.29 million. On average, research analysts anticipate that Ring Energy, Inc. will post 0.4 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Warburg Pincus & Co Us, Llc sold 4,400,000 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was 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 in the company, valued at $57,543,441.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Ring Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 15th.

Ring Energy 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.