Ring Energy (NYSEAMERICAN:REI) Lowered to Hold Rating by StockNews.com

Ring Energy (NYSEAMERICAN:REI - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Thursday.

Ring Energy Price Performance

REI traded up $0.02 during trading hours on Thursday, hitting $1.54. 1,056,655 shares of the company's stock were exchanged, compared to its average volume of 1,793,822. The company has a market cap of $305.23 million, a P/E ratio of 2.67 and a beta of 1.63. Ring Energy has a 12-month low of $1.25 and a 12-month high of $2.20. The company has a quick ratio of 0.49, a current ratio of 0.54 and a debt-to-equity ratio of 0.46.

Ring Energy (NYSEAMERICAN:REI - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping 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 company had revenue of $89.24 million for the quarter, compared to the consensus estimate of $83.27 million. On average, research analysts forecast that Ring Energy will post 0.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Ring Energy

In related news, major shareholder Warburg Pincus & Co Us, Llc sold 6,200,000 shares of Ring Energy stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $1.64, for a total transaction of $10,168,000.00. Following the sale, the insider now directly owns 39,920,643 shares of the company's stock, valued at $65,469,854.52. This trade represents a 13.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of REI. De Lisle Partners LLP grew its stake in Ring Energy by 12.8% during the third quarter. De Lisle Partners LLP now owns 585,957 shares of the company's stock worth $940,000 after buying an additional 66,457 shares in the last quarter. CreativeOne Wealth LLC acquired a new position in Ring Energy during the 3rd quarter worth approximately $26,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Ring Energy by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 378,747 shares of the company's stock valued at $606,000 after buying an additional 16,952 shares during the last quarter. Intech Investment Management LLC bought a new stake in Ring Energy during the third quarter worth $96,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Ring Energy by 43.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 139,960 shares of the company's stock worth $224,000 after purchasing an additional 42,103 shares in the last quarter. Institutional investors and hedge funds own 77.14% of the company's stock.

About Ring Energy

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.