StockNews.com Upgrades Ring Energy (NYSEAMERICAN:REI) to Buy

StockNews.com upgraded shares of Ring Energy (NYSEAMERICAN:REI) from a hold rating to a buy rating in a report published on Friday morning.

Ring Energy Stock Up 5.1 %

Ring Energy stock opened at $1.86 on Friday. The stock has a market cap of $368.17 million, a P/E ratio of 4.65 and a beta of 1.70. Ring Energy has a 52 week low of $1.25 and a 52 week high of $2.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.50 and a quick ratio of 0.45.

Institutional Trading of Ring Energy

Several large investors have recently made changes to their positions in the business. XTX Topco Ltd raised its holdings in shares of Ring Energy by 399.8% during the second quarter. XTX Topco Ltd now owns 241,869 shares of the company’s stock worth $409,000 after purchasing an additional 193,474 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Ring Energy by 8.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 71,469 shares of the company’s stock worth $121,000 after purchasing an additional 5,672 shares during the period. Renaissance Technologies LLC raised its stake in shares of Ring Energy by 50.4% during the 2nd quarter. Renaissance Technologies LLC now owns 787,600 shares of the company’s stock valued at $1,331,000 after buying an additional 264,010 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Ring Energy by 42.6% in the 2nd quarter. American Century Companies Inc. now owns 1,967,501 shares of the company’s stock valued at $3,325,000 after buying an additional 587,690 shares during the period. Finally, Caprock Group LLC boosted its stake 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 worth $37,000 after buying an additional 6,655 shares during the last quarter. 77.14% of the stock is owned by hedge funds and other institutional investors.

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.