Quantbot Technologies LP Takes $410,000 Position in Ring Energy, Inc. $REI

Quantbot Technologies LP acquired a new position in Ring Energy, Inc. (NYSEAMERICAN:REI) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 379,896 shares of the company’s stock, valued at approximately $410,000.

Several other institutional investors and hedge funds have also bought and sold shares of REI. DGS Capital Management LLC increased its stake in Ring Energy by 65.4% in the 4th quarter. DGS Capital Management LLC now owns 31,196 shares of the company’s stock worth $27,000 after purchasing an additional 12,331 shares during the period. Van Den Berg Management I Inc. grew its holdings in shares of Ring Energy by 39.9% in the third quarter. Van Den Berg Management I Inc. now owns 50,884 shares of the company’s stock worth $55,000 after purchasing an additional 14,523 shares during the last quarter. Barry Investment Advisors LLC grew its holdings in shares of Ring Energy by 100.0% in the first quarter. Barry Investment Advisors LLC now owns 30,000 shares of the company’s stock worth $46,000 after purchasing an additional 15,000 shares during the last quarter. Callahan Advisors LLC increased its stake in shares of Ring Energy by 53.5% in the fourth quarter. Callahan Advisors LLC now owns 43,061 shares of the company’s stock worth $37,000 after buying an additional 15,000 shares during the period. Finally, Jefferies Financial Group Inc. increased its stake in shares of Ring Energy by 90.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 36,861 shares of the company’s stock worth $32,000 after buying an additional 17,461 shares during the period. 77.14% of the stock is currently owned by institutional investors.

Ring Energy Price Performance

Shares of REI stock opened at $1.45 on Friday. The firm has a market cap of $377.75 million, a P/E ratio of -1.32, a P/E/G ratio of 0.32 and a beta of 0.79. Ring Energy, Inc. has a fifty-two week low of $0.83 and a fifty-two week high of $2.00. The business’s 50 day moving average price is $1.25 and its 200-day moving average price is $1.36. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.49 and a current ratio of 0.54.

Ring Energy (NYSEAMERICAN:REI) last announced its earnings results on Wednesday, August 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Ring Energy had a positive return on equity of 5.55% and a negative net margin of 68.02%.The company had revenue of $104.68 million during the quarter, compared to the consensus estimate of $93.29 million. On average, equities research analysts anticipate that Ring Energy, Inc. will post 0.11 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Sundip Singh Johl bought 231,000 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was purchased at an average cost of $1.21 per share, with a total value of $279,510.00. Following the transaction, the executive vice president owned 548,460 shares in the company, valued at approximately $663,636.60. This trade represents a 72.77% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paul D. Mckinney bought 50,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were bought at an average cost of $1.19 per share, for a total transaction of $59,500.00. Following the purchase, the chief executive officer directly owned 4,158,463 shares in the company, valued at approximately $4,948,570.97. This represents a 1.22% increase in their position. The SEC filing for this purchase provides additional information. 3.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on REI shares. Zacks Research cut shares of Ring Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 26th. Bank of America initiated coverage on shares of Ring Energy in a research report on Wednesday, July 15th. They issued a “buy” rating and a $2.00 price objective on the stock. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2.00.

About Ring Energy

Ring Energy, Inc is an independent oil and natural gas exploration and production company focused on the development, acquisition and operation of upstream assets in the United States. Headquartered in Odessa, Texas, the company concentrates its activities on onshore hydrocarbon plays, where it seeks to optimize production through technical innovation, cost management and disciplined capital allocation. Ring Energy trades on the NYSE American under the ticker symbol REI.

The company’s core operations are centered in the Permian Basin, one of North America’s most prolific oil-producing regions.