Ring Energy, Inc. (NYSEAMERICAN:REI) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its holdings in Ring Energy, Inc. (NYSEAMERICAN:REI) by 50.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 787,600 shares of the company’s stock after purchasing an additional 264,010 shares during the quarter. Renaissance Technologies LLC owned approximately 0.40% of Ring Energy worth $1,331,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in REI. Delap Wealth Advisory LLC bought a new stake in shares of Ring Energy during the first quarter valued at about $27,000. Choreo LLC purchased a new position in Ring Energy in the 1st quarter worth about $29,000. Caprock Group LLC purchased a new position in Ring Energy in the 1st quarter worth about $30,000. CreativeOne Wealth LLC purchased a new position in Ring Energy during the 1st quarter valued at about $31,000. Finally, Walleye Trading LLC grew its stake in Ring Energy by 255.9% during the 1st quarter. Walleye Trading LLC now owns 16,213 shares of the company’s stock valued at $32,000 after acquiring an additional 26,613 shares in the last quarter. Institutional investors and hedge funds own 77.14% of the company’s stock.

Analyst Ratings Changes

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

Ring Energy Stock Performance

REI opened at $1.74 on Friday. Ring Energy, Inc. has a twelve month low of $1.25 and a twelve month high of $2.20. The company has a market capitalization of $344.82 million, a P/E ratio of 4.35 and a beta of 1.63. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.50 and a quick ratio of 0.45.

Ring Energy (NYSEAMERICAN:REI) last issued its earnings results on Tuesday, August 6th. The company reported $0.11 EPS for the quarter, meeting analysts’ consensus estimates of $0.11. Ring Energy had a return on equity of 10.94% and a net margin of 18.41%. The business had revenue of $99.14 million during the quarter, compared to analyst estimates of $98.29 million. On average, research analysts expect that Ring Energy, Inc. will post 0.43 earnings per share for the current fiscal year.

Insider Transactions at Ring Energy

In other Ring Energy news, major shareholder Warburg Pincus & Co Us, Llc sold 6,200,000 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $1.64, for a total value of $10,168,000.00. Following the transaction, the insider now owns 39,920,643 shares of the company’s stock, valued at approximately $65,469,854.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.60% of the company’s stock.

Ring Energy Company 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.