379,896 Shares in Ring Energy, Inc. $REI Purchased by Quantbot Technologies LP

Quantbot Technologies LP bought a new position in Ring Energy, Inc. (NYSEAMERICAN:REI) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 379,896 shares of the company’s stock, valued at approximately $410,000. Quantbot Technologies LP owned 0.18% of Ring Energy as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. DGS Capital Management LLC boosted its position in shares of Ring Energy by 65.4% in the fourth quarter. DGS Capital Management LLC now owns 31,196 shares of the company’s stock valued at $27,000 after acquiring an additional 12,331 shares during the period. Van Den Berg Management I Inc. increased its holdings in Ring Energy by 39.9% during the 3rd quarter. Van Den Berg Management I Inc. now owns 50,884 shares of the company’s stock worth $55,000 after acquiring an additional 14,523 shares during the period. Barry Investment Advisors LLC increased its holdings in Ring Energy by 100.0% during the 1st quarter. Barry Investment Advisors LLC now owns 30,000 shares of the company’s stock worth $46,000 after acquiring an additional 15,000 shares during the period. Callahan Advisors LLC lifted its stake in Ring Energy by 53.5% in the 4th quarter. Callahan Advisors LLC now owns 43,061 shares of the company’s stock worth $37,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Jefferies Financial Group Inc. lifted its stake in Ring Energy by 90.0% in the 4th quarter. Jefferies Financial Group Inc. now owns 36,861 shares of the company’s stock worth $32,000 after purchasing an additional 17,461 shares in the last quarter. Hedge funds and other institutional investors own 77.14% of the company’s stock.

Ring Energy Stock Performance

NYSEAMERICAN REI opened at $1.45 on Friday. Ring Energy, Inc. has a 52-week low of $0.83 and a 52-week high of $2.00. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.49 and a current ratio of 0.54. The company has a market capitalization of $377.75 million, a P/E ratio of -1.32, a P/E/G ratio of 0.32 and a beta of 0.79. The company has a fifty day moving average of $1.25 and a 200-day moving average of $1.36.

Ring Energy (NYSEAMERICAN:REI) last released its earnings results on Wednesday, August 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Ring Energy had a positive return on equity of 5.55% and a negative net margin of 68.02%.The business had revenue of $104.68 million for the quarter, compared to analysts’ expectations of $93.29 million. As a group, equities research analysts predict that Ring Energy, Inc. will post 0.11 EPS for the current fiscal year.

Insider Transactions at Ring Energy

In other news, CEO Paul D. Mckinney bought 50,000 shares of the business’s stock in a transaction on Monday, June 15th. The stock was acquired at an average price of $1.19 per share, with a total value of $59,500.00. Following the completion of the purchase, the chief executive officer directly owned 4,158,463 shares in the company, valued at $4,948,570.97. This represents a 1.22% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Sundip Singh Johl purchased 231,000 shares of Ring Energy stock in a transaction on Monday, June 15th. The shares were acquired at an average price of $1.21 per share, for a total transaction of $279,510.00. Following the completion of the transaction, the executive vice president directly owned 548,460 shares of the company’s stock, valued at approximately $663,636.60. The trade was a 72.77% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 3.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Bank of America initiated coverage on shares of Ring Energy in a report on Wednesday, July 15th. They issued a “buy” rating and a $2.00 price target on the stock. Zacks Research cut Ring Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ring Energy has a consensus rating of “Moderate Buy” and an average target price of $2.00.

Ring Energy Company Profile

Ring Energy, Inc is an independent oil and natural gas exploration and production company focused on the development, acquisition and operation of upstream assets in the United States. Headquartered in Odessa, Texas, the company concentrates its activities on onshore hydrocarbon plays, where it seeks to optimize production through technical innovation, cost management and disciplined capital allocation. Ring Energy trades on the NYSE American under the ticker symbol REI.

The company’s core operations are centered in the Permian Basin, one of North America’s most prolific oil-producing regions.