The Manufacturers Life Insurance Company Has $102,000 Position in Ring Energy, Inc. (NYSEAMERICAN:REI)

The Manufacturers Life Insurance Company lifted its stake in Ring Energy, Inc. (NYSEAMERICAN:REI) by 15.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,334 shares of the company’s stock after buying an additional 8,165 shares during the period. The Manufacturers Life Insurance Company’s holdings in Ring Energy were worth $102,000 at the end of the most recent reporting period.

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

Ring Energy Stock Performance

REI opened at $1.53 on Monday. Ring Energy, Inc. has a 1-year low of $1.25 and a 1-year high of $2.20. The stock has a market capitalization of $303.20 million, a price-to-earnings ratio of 4.25 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 (NYSEAMERICAN:REI) last released its earnings results on Tuesday, August 6th. The company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The company had revenue of $99.14 million during the quarter, compared to analysts’ expectations of $98.29 million. Ring Energy had a return on equity of 10.94% and a net margin of 18.41%. As a group, equities research analysts predict that Ring Energy, Inc. will post 0.4 earnings per share for the current year.

Insider Activity at Ring Energy

In other Ring Energy news, major shareholder Warburg Pincus & Co Us, Llc sold 4,400,000 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $1.62, for a total value of $7,128,000.00. Following the transaction, the insider now owns 35,520,643 shares of the company’s stock, valued at approximately $57,543,441.66. 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. 2.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com raised 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.