Ring Energy (NYSEAMERICAN:REI) Rating Lowered to Hold at StockNews.com

Ring Energy (NYSEAMERICAN:REI) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Ring Energy Price Performance

NYSEAMERICAN:REI opened at $1.53 on Thursday. The stock has a market cap of $303.25 million, a P/E ratio of 2.70 and a beta of 1.63. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.49 and a current ratio of 0.54. Ring Energy has a one year low of $1.25 and a one year high of $2.20.

Ring Energy (NYSEAMERICAN:REI) last issued its 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 during the quarter, compared to analysts’ expectations of $83.27 million. Ring Energy had a net margin of 29.44% and a return on equity of 9.21%. On average, equities research analysts anticipate that Ring Energy will post 0.33 EPS for the current year.

Insider Buying and Selling

In other Ring Energy news, major shareholder Warburg Pincus & Co Us, Llc sold 4,400,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 35,520,643 shares of the company’s stock, valued at approximately $57,543,441.66. The trade was a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of REI. CreativeOne Wealth LLC bought a new position in shares of Ring Energy during the third quarter worth $26,000. Delap Wealth Advisory LLC bought a new position in shares of Ring Energy during the 1st quarter valued at about $27,000. Walleye Trading LLC grew its position in shares of Ring Energy by 255.9% during the first quarter. Walleye Trading LLC now owns 16,213 shares of the company’s stock valued at $32,000 after purchasing an additional 26,613 shares in the last quarter. Ullmann Wealth Partners Group LLC increased its holdings 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 worth $33,000 after purchasing an additional 7,583 shares during the last quarter. Finally, Caprock Group LLC lifted its position 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 worth $37,000 after buying an additional 6,655 shares in the last quarter. Hedge funds and other institutional investors own 77.14% 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.