SG Americas Securities LLC acquired a new stake in shares of Ring Energy Inc (NYSEAMERICAN:REI) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 17,607 shares of the company’s stock, valued at approximately $103,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Arizona State Retirement System increased its holdings in Ring Energy by 4.6% in the 1st quarter. Arizona State Retirement System now owns 91,688 shares of the company’s stock valued at $538,000 after buying an additional 4,049 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Ring Energy by 62,700.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 11,932 shares of the company’s stock valued at $70,000 after acquiring an additional 11,913 shares during the period. Creative Planning bought a new stake in Ring Energy during the 1st quarter worth approximately $107,000. Bailard Inc. bought a new stake in Ring Energy during the 1st quarter worth approximately $205,000. Finally, Brookstone Capital Management bought a new position in shares of Ring Energy during the 1st quarter worth approximately $94,000.
A number of research analysts recently commented on the company. Johnson Rice started coverage on Ring Energy in a research note on Tuesday, May 28th. They issued a “buy” rating for the company. Zacks Investment Research raised Ring Energy from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a research report on Friday, April 26th. Finally, Northland Securities reiterated a “buy” rating and set a $9.00 price target on shares of Ring Energy in a report on Tuesday, April 23rd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $9.40.
Ring Energy (NYSEAMERICAN:REI) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.15. The company had revenue of $41.80 million for the quarter, compared to analysts’ expectations of $26.53 million.
In other Ring Energy news, Director Anthony Benedict Petrelli bought 30,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were acquired at an average cost of $3.80 per share, with a total value of $114,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stanley Myron Mccabe purchased 10,000 shares of Ring Energy stock in a transaction dated Friday, May 31st. The shares were purchased at an average cost of $3.68 per share, for a total transaction of $36,800.00. Following the transaction, the director now owns 1,670,634 shares in the company, valued at approximately $6,147,933.12. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 80,000 shares of company stock valued at $300,850.
Ring Energy Profile
Ring Energy, Inc, an exploration and production company, acquires, explores for, develops, and produces oil and natural gas in Texas, the United States. As of December 31, 2018, the company's proved reserves consisted of approximately 36.6 million barrel of oil equivalent. As of the above date, it also had interests in 17,408 net developed acres and 58,620 net undeveloped acres in Andrews and Gaines counties; and 19,138 net developed acres and 860 net undeveloped acres in Culberson and Reeves counties.
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