Public Employees Retirement Association of Colorado purchased a new stake in Ring Energy (NYSE:REI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 25,055 shares of the company’s stock, valued at approximately $326,000. Public Employees Retirement Association of Colorado owned approximately 0.05% of Ring Energy as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Pembroke Management LTD acquired a new position in shares of Ring Energy during the second quarter valued at $11,791,000. Formula Growth Ltd. boosted its position in shares of Ring Energy by 29.9% in the first quarter. Formula Growth Ltd. now owns 2,077,964 shares of the company’s stock valued at $22,484,000 after buying an additional 478,125 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Ring Energy during the second quarter valued at $4,980,000. Monarch Partners Asset Management LLC boosted its position in shares of Ring Energy by 805.9% in the first quarter. Monarch Partners Asset Management LLC now owns 253,835 shares of the company’s stock valued at $2,746,000 after buying an additional 225,815 shares in the last quarter. Finally, Hodges Capital Management Inc. boosted its position in shares of Ring Energy by 18.3% in the first quarter. Hodges Capital Management Inc. now owns 1,418,125 shares of the company’s stock valued at $15,344,000 after buying an additional 219,540 shares in the last quarter.

Shares of Ring Energy (NYSE:REI) opened at 12.04 on Wednesday. The firm’s market cap is $651.91 million. Ring Energy has a one year low of $8.76 and a one year high of $14.14. The firm’s 50-day moving average price is $12.89 and its 200 day moving average price is $12.29.

Ring Energy (NYSE:REI) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.04 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.04. The firm had revenue of $14.50 million during the quarter, compared to the consensus estimate of $14.20 million. Analysts predict that Ring Energy will post $0.19 EPS for the current year.

WARNING: This story was first published by Watch List News and is the sole property of of Watch List News. If you are viewing this story on another website, it was copied illegally and reposted in violation of US & international trademark and copyright legislation. The original version of this story can be accessed at https://www.watchlistnews.com/public-employees-retirement-association-of-colorado-purchases-shares-of-25055-ring-energy-rei/1530722.html.

Several equities research analysts have recently commented on the company. Roth Capital set a $20.00 price objective on Ring Energy and gave the company a “buy” rating in a report on Wednesday, August 23rd. Imperial Capital assumed coverage on Ring Energy in a report on Tuesday, August 15th. They issued an “outperform” rating and a $18.00 price objective for the company. Northland Securities set a $20.00 price objective on Ring Energy and gave the company a “buy” rating in a report on Monday, August 14th. Finally, Zacks Investment Research raised Ring Energy from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $17.33.

About Ring Energy

Ring Energy, Inc acquires, explores for, develops, and produces oil and natural gas in Texas and Kansas, the United States. As of December 31, 2016, its proved reserves consisted of approximately 27.7 million barrel of oil equivalent. The company also owns interests in 32,663 net developed and undeveloped acres in Andrews and Gaines counties, and 20,490 net developed and undeveloped acres in Reeves and Culberson counties, Texas; and 14,549 net developed and undeveloped acres in Kansas.

Institutional Ownership by Quarter for Ring Energy (NYSE:REI)

Receive News & Ratings for Ring Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ring Energy and related companies with Analyst Ratings Network's FREE daily email newsletter.