TIAA CREF Investment Management LLC Has $1.59 Million Position in Ring Energy (REI)
TIAA CREF Investment Management LLC increased its stake in Ring Energy (NYSE:REI) by 12.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 122,109 shares of the company’s stock after buying an additional 13,745 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.22% of Ring Energy worth $1,587,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Ring Energy by 9.6% in the first quarter. Vanguard Group Inc. now owns 1,913,458 shares of the company’s stock worth $20,704,000 after buying an additional 167,435 shares during the last quarter. Pembroke Management LTD bought a new stake in Ring Energy in the second quarter worth $11,791,000. Eagle Boston Investment Management Inc. lifted its position in shares of Ring Energy by 3.0% during the second quarter. Eagle Boston Investment Management Inc. now owns 810,453 shares of the company’s stock worth $10,535,000 after purchasing an additional 23,619 shares during the last quarter. Federated Investors Inc. PA lifted its position in shares of Ring Energy by 22.6% during the second quarter. Federated Investors Inc. PA now owns 578,262 shares of the company’s stock worth $7,518,000 after purchasing an additional 106,647 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Ring Energy by 12.2% during the first quarter. Dimensional Fund Advisors LP now owns 499,287 shares of the company’s stock worth $5,401,000 after purchasing an additional 54,420 shares during the last quarter.
Ring Energy (REI) opened at $12.96 on Friday.
Ring Energy (NYSE:REI) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. The firm had revenue of $14.50 million for the quarter, compared to analysts’ expectations of $14.20 million.
Several analysts have recently weighed in on REI shares. Zacks Investment Research downgraded Ring Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Roth Capital set a $20.00 target price on Ring Energy and gave the stock a “buy” rating in a research report on Friday, October 6th. Northland Securities set a $20.00 target price on Ring Energy and gave the stock a “buy” rating in a research report on Saturday, October 21st. Finally, Imperial Capital started coverage on Ring Energy in a research report on Tuesday, August 15th. They set an “outperform” rating and a $18.00 target price for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Ring Energy has an average rating of “Buy” and a consensus price target of $18.60.
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Ring Energy Profile
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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