Ring Energy (NYSEAMERICAN:REI) Stock Rating Upgraded by Zacks Research
by Doug Wharley · The Cerbat GemRing Energy (NYSEAMERICAN:REI – Get Free Report) was upgraded by research analysts at Zacks Research to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.
Ring Energy Stock Up 4.0%
NYSEAMERICAN:REI opened at $0.98 on Tuesday. Ring Energy has a 52 week low of $0.72 and a 52 week high of $1.48. The stock’s fifty day moving average is $0.91 and its two-hundred day moving average is $0.93. The stock has a market capitalization of $203.08 million, a price-to-earnings ratio of -14.00 and a beta of 0.85. The company has a quick ratio of 0.50, a current ratio of 0.55 and a debt-to-equity ratio of 0.51.
Ring Energy (NYSEAMERICAN:REI – Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. Ring Energy had a positive return on equity of 6.07% and a negative net margin of 5.01%.The firm had revenue of $78.60 million for the quarter, compared to analyst estimates of $83.20 million. Research analysts anticipate that Ring Energy will post 0.33 EPS for the current year.
Hedge Funds Weigh In On Ring Energy
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Fund Management LLC purchased a new stake in shares of Ring Energy during the fourth quarter worth $26,000. SG Americas Securities LLC grew its position in shares of Ring Energy by 109.8% during the fourth quarter. SG Americas Securities LLC now owns 80,849 shares of the company’s stock worth $70,000 after buying an additional 42,320 shares in the last quarter. Van Den Berg Management I Inc. raised its holdings in 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 valued at $55,000 after acquiring an additional 14,523 shares in the last quarter. Centiva Capital LP purchased a new position in Ring Energy in the third quarter worth approximately $26,000. Finally, Bank of America Corp DE grew its holdings in Ring Energy by 125.3% during the 3rd quarter. Bank of America Corp DE now owns 79,837 shares of the company’s stock worth $87,000 after acquiring an additional 44,394 shares in the last quarter. Hedge funds and other institutional investors own 77.14% of the company’s stock.
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.