Ring Energy (NYSEAMERICAN:REI) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Ring Energy (NYSEAMERICAN:REI) from a buy rating to a hold rating in a research report released on Friday.

Ring Energy Stock Down 10.9 %

NYSEAMERICAN:REI traded down $0.19 on Friday, reaching $1.55. 3,185,206 shares of the stock traded hands, compared to its average volume of 1,794,996. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.45 and a current ratio of 0.50. The firm has a market cap of $307.16 million, a P/E ratio of 2.72 and a beta of 1.63. Ring Energy has a 12 month low of $1.25 and a 12 month high of $2.20.

Ring Energy (NYSEAMERICAN:REI) last released its earnings results on Tuesday, August 6th. The company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. Ring Energy had a net margin of 29.44% and a return on equity of 9.36%. The company had revenue of $99.14 million during the quarter, compared to analyst estimates of $98.29 million. Analysts predict that Ring Energy will post 0.33 earnings per share for the current fiscal year.

Insider Activity

In other Ring Energy news, major shareholder Warburg Pincus & Co Us, Llc sold 4,400,000 shares of the stock in a transaction on 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 completion of the sale, the insider now owns 35,520,643 shares in the company, valued at approximately $57,543,441.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in REI. Delap Wealth Advisory LLC purchased a new position in shares of Ring Energy during the first quarter valued at about $27,000. CreativeOne Wealth LLC purchased a new position in shares of Ring Energy during the first quarter valued at about $31,000. Walleye Trading LLC grew its position in Ring Energy by 255.9% in the first quarter. Walleye Trading LLC now owns 16,213 shares of the company’s stock worth $32,000 after acquiring an additional 26,613 shares in the last quarter. Ullmann Wealth Partners Group LLC grew its position in 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 acquiring an additional 7,583 shares in the last quarter. Finally, Caprock Group LLC grew its position in 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 acquiring an additional 6,655 shares in the last quarter. Hedge funds and other institutional investors own 77.14% of the company’s stock.

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.