Intech Investment Management LLC Acquires New Stake in Ring Energy, Inc. (NYSEAMERICAN:REI)

Intech Investment Management LLC acquired a new position in shares of Ring Energy, Inc. (NYSEAMERICAN:REI) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 60,155 shares of the company’s stock, valued at approximately $96,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Ring Energy by 26.5% in the first quarter. Vanguard Group Inc. now owns 5,068,526 shares of the company’s stock worth $9,934,000 after purchasing an additional 1,062,654 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Ring Energy by 7.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 132,995 shares of the company’s stock valued at $261,000 after purchasing an additional 8,792 shares during the period. Cetera Advisors LLC increased its stake in Ring Energy by 89.6% during the 1st quarter. Cetera Advisors LLC now owns 34,130 shares of the company’s stock valued at $67,000 after purchasing an additional 16,130 shares in the last quarter. CWM LLC lifted its stake in shares of Ring Energy by 448.3% in the second quarter. CWM LLC now owns 23,367 shares of the company’s stock valued at $39,000 after buying an additional 19,105 shares in the last quarter. Finally, Diversified Trust Co bought a new stake in shares of Ring Energy during the second quarter worth about $51,000. Institutional investors and hedge funds own 77.14% of the company’s stock.

Insider Buying and Selling

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 transaction of $7,128,000.00. Following the sale, the insider now owns 35,520,643 shares in the company, valued at $57,543,441.66. This represents a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.60% of the stock is currently owned by insiders.

Ring Energy Stock Performance

Ring Energy stock opened at $1.38 on Monday. Ring Energy, Inc. has a fifty-two week low of $1.25 and a fifty-two week high of $2.20. The stock has a market cap of $273.52 million, a P/E ratio of 2.42 and a beta of 1.59. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.49 and a current ratio of 0.54.

Ring Energy (NYSEAMERICAN:REI) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. Ring Energy had a return on equity of 9.21% and a net margin of 29.44%. The business had revenue of $89.24 million for the quarter, compared to analysts’ expectations of $83.27 million. As a group, equities analysts expect that Ring Energy, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Ring Energy from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th.

Ring Energy Company Profile

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.