Intech Investment Management LLC Takes $96,000 Position in Ring Energy, Inc. (NYSEAMERICAN:REI)

Intech Investment Management LLC acquired a new position in shares of Ring Energy, Inc. (NYSEAMERICAN:REI) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 60,155 shares of the company’s stock, valued at approximately $96,000.

A number of other hedge funds have also modified their holdings of REI. Ullmann Wealth Partners Group LLC grew its stake in shares of Ring Energy by 58.8% in the third quarter. Ullmann Wealth Partners Group LLC now owns 20,469 shares of the company’s stock valued at $33,000 after buying an additional 7,583 shares in the last quarter. Caprock Group LLC increased its holdings in shares of 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 purchasing an additional 6,655 shares during the last quarter. CWM LLC lifted its position in Ring Energy by 448.3% during the second quarter. CWM LLC now owns 23,367 shares of the company’s stock worth $39,000 after acquiring an additional 19,105 shares during the last quarter. Catalina Capital Group LLC boosted its holdings in shares of Ring Energy by 54.9% during the second quarter. Catalina Capital Group LLC now owns 26,329 shares of the company’s stock worth $44,000 after acquiring an additional 9,329 shares during the period. Finally, Diversified Trust Co bought a new stake in Ring Energy in the 2nd quarter valued at $51,000. 77.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Warburg Pincus & Co Us, Llc sold 4,400,000 shares of the business’s stock in a transaction 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 sale, the insider now owns 35,520,643 shares in the company, valued at $57,543,441.66. The trade was a 11.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.60% of the stock is owned by corporate insiders.

Ring Energy Price Performance

REI opened at $1.38 on Monday. Ring Energy, Inc. has a 52-week low of $1.25 and a 52-week 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 cap of $273.52 million, a PE ratio of 2.42 and a beta of 1.59.

Ring Energy (NYSEAMERICAN:REI) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. The business had revenue of $89.24 million for the quarter, compared to analyst estimates of $83.27 million. Ring Energy had a net margin of 29.44% and a return on equity of 9.21%. On average, research analysts expect that Ring Energy, Inc. will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.