Geode Capital Management LLC Has $4.75 Million Stock Position in Ring Energy, Inc. (NYSEAMERICAN:REI)

Geode Capital Management LLC increased its holdings in Ring Energy, Inc. (NYSEAMERICAN:REI) by 34.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,970,929 shares of the company’s stock after acquiring an additional 763,907 shares during the period. Geode Capital Management LLC owned about 1.50% of Ring Energy worth $4,754,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Barclays PLC raised its holdings in shares of Ring Energy by 272.6% during the 3rd quarter. Barclays PLC now owns 194,186 shares of the company’s stock valued at $311,000 after purchasing an additional 142,074 shares in the last quarter. XTX Topco Ltd increased its stake in shares of Ring Energy by 42.3% in the third quarter. XTX Topco Ltd now owns 344,225 shares of the company’s stock worth $551,000 after purchasing an additional 102,356 shares during the period. Wellington Management Group LLP bought a new stake in shares of Ring Energy in the third quarter valued at approximately $96,000. State Street Corp grew its position in Ring Energy by 0.6% in the 3rd quarter. State Street Corp now owns 2,398,808 shares of the company’s stock worth $3,838,000 after purchasing an additional 13,495 shares during the last quarter. Finally, ClearAlpha Technologies LP acquired a new stake in Ring Energy in the 3rd quarter worth $250,000. 77.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ring Energy

In other news, major shareholder Warburg Pincus & Co Us, Llc sold 4,400,000 shares of the 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 completion of the transaction, the insider now directly owns 35,520,643 shares in the company, valued at $57,543,441.66. This represents a 11.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Ring Energy Stock Performance

REI opened at $1.44 on Monday. Ring Energy, Inc. has a 1-year low of $1.21 and a 1-year high of $2.20. The stock has a market capitalization of $285.41 million, a price-to-earnings ratio of 2.53 and a beta of 1.59. The company has a quick ratio of 0.49, a current ratio of 0.54 and a debt-to-equity ratio of 0.46.

Ring Energy (NYSEAMERICAN:REI) last released its earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share 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 firm had revenue of $89.24 million for the quarter, compared to analyst estimates of $83.27 million. As a group, equities research analysts predict that Ring Energy, Inc. will post 0.34 earnings per share for the current year.

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.