Geode Capital Management LLC grew its position in Ring Energy, Inc. (NYSEAMERICAN:REI - Free Report) by 34.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,970,929 shares of the company's stock after purchasing an additional 763,907 shares during the quarter. Geode Capital Management LLC owned approximately 1.50% of Ring Energy worth $4,754,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. CreativeOne Wealth LLC bought a new stake in Ring Energy during the 3rd quarter valued at approximately $26,000. Ullmann Wealth Partners Group LLC boosted its position in shares of Ring Energy by 58.8% in the third quarter. Ullmann Wealth Partners Group LLC now owns 20,469 shares of the company's stock valued at $33,000 after acquiring an additional 7,583 shares during the period. Caprock Group LLC boosted its position in shares of Ring Energy by 44.0% in the second quarter. Caprock Group LLC now owns 21,776 shares of the company's stock valued at $37,000 after acquiring an additional 6,655 shares during the period. Catalina Capital Group LLC grew its stake in shares of Ring Energy by 38.7% in the third quarter. Catalina Capital Group LLC now owns 36,530 shares of the company's stock worth $58,000 after acquiring an additional 10,201 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Ring Energy during the second quarter worth $60,000. 77.14% of the stock is currently owned by institutional investors and hedge funds.
Ring Energy Trading Down 0.7 %
REI stock traded down $0.01 during midday trading on Monday, reaching $1.43. 2,791,705 shares of the company's stock traded hands, compared to its average volume of 2,279,335. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.54 and a quick ratio of 0.49. Ring Energy, Inc. has a 1-year low of $1.21 and a 1-year high of $2.20. The stock has a market capitalization of $283.43 million, a price-to-earnings ratio of 2.51 and a beta of 1.59.
Ring Energy (NYSEAMERICAN:REI - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. Ring Energy had a net margin of 29.44% and a return on equity of 9.21%. The firm had revenue of $89.24 million during the quarter, compared to analysts' expectations of $83.27 million. Analysts expect that Ring Energy, Inc. will post 0.34 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Separately, StockNews.com downgraded Ring Energy from a "buy" rating to a "hold" rating in a research report on Thursday, November 14th.
View Our Latest Research Report on Ring Energy
Insider Activity
In other Ring Energy news, major shareholder Warburg Pincus & Co Us, Llc sold 4,400,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $1.62, for a total value of $7,128,000.00. Following the transaction, the insider now directly owns 35,520,643 shares of the company's stock, valued at approximately $57,543,441.66. This trade represents a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is currently owned by insiders.
Ring Energy Profile
(
Free Report)
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.
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