Ring Energy (REI) Stake Maintained by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. continued to hold its position in shares of Ring Energy (NYSE:REI) during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 91,700 shares of the company’s stock at the end of the first quarter. Schwab Charles Investment Management Inc. owned approximately 0.19% of Ring Energy worth $993,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of REI. MARSHALL WACE ASIA Ltd acquired a new position in shares of Ring Energy during the first quarter valued at about $126,000. Marshall Wace North America L.P. acquired a new position in shares of Ring Energy during the first quarter valued at about $126,000. Greenwood Capital Associates LLC raised its position in shares of Ring Energy by 5.3% in the first quarter. Greenwood Capital Associates LLC now owns 13,741 shares of the company’s stock valued at $149,000 after buying an additional 695 shares during the period. Alliancebernstein L.P. acquired a new position in shares of Ring Energy during the first quarter valued at about $155,000. Finally, KCG Holdings Inc. raised its position in shares of Ring Energy by 43.5% in the first quarter. KCG Holdings Inc. now owns 15,219 shares of the company’s stock valued at $165,000 after buying an additional 4,613 shares during the period.
Ring Energy (REI) traded up 1.18% on Thursday, reaching $12.00. 86,063 shares of the company traded hands. The stock’s market capitalization is $649.74 million. The firm has a 50 day moving average of $12.89 and a 200-day moving average of $12.29. Ring Energy has a one year low of $8.76 and a one year high of $14.14.
Ring Energy (NYSE:REI) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.04 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. The firm had revenue of $14.50 million for the quarter, compared to the consensus estimate of $14.20 million. On average, analysts anticipate that Ring Energy will post $0.19 EPS for the current year.
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Several research analysts recently weighed in on REI shares. Zacks Investment Research lowered shares of Ring Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Imperial Capital started coverage on shares of Ring Energy in a research note on Tuesday, August 15th. They set an “outperform” rating and a $18.00 price objective on the stock. Roth Capital set a $20.00 price objective on shares of Ring Energy and gave the stock a “buy” rating in a research note on Wednesday, August 23rd. Finally, Northland Securities set a $20.00 price objective on shares of Ring Energy and gave the stock a “buy” rating in a research note on Monday, August 14th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company 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.
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