KBC Group NV reduced its shareholding in Ring Energy, Inc. (NYSEAMERICAN:REI – Get a rating) by 77.7% in the first quarter, according to its last disclosure to the Securities and Exchange Commission. The fund held 26,654 shares of the company after selling 92,766 shares during the quarter. KBC Group NV’s stake in Ring Energy was worth $102,000 at the end of the last quarter.
Other institutional investors and hedge funds have also recently changed their stakes in the company. Acadian Asset Management LLC purchased a new equity stake in Ring Energy during the fourth quarter valued at approximately $42,000. Hillsdale Investment Management Inc. acquired a new stake in Ring Energy in the fourth quarter worth $42,000. Venture Visionary Partners LLC bought a new stake in Ring Energy in the fourth quarter for $45,000. NTB Financial Corp bought a new stake in Ring Energy in the fourth quarter worth $50,000. Finally, FNY Investment Advisers LLC acquired a new stake in Ring Energy in the first quarter worth $54,000. 29.20% of the shares are held by hedge funds and other institutional investors.
Analyst upgrades and downgrades
Separately, Roth Capital downgraded Ring Energy from a “buy” rating to a “neutral” rating in a Monday, Aug. 1 research report.
Ring Energy Price Performance
NYSEAMERICAN:REI opened at $2.90 on Friday. The company has a market capitalization of $311.00 million, a P/E ratio of -96.63 and a beta of 2.13. Ring Energy, Inc. has a 52-week low of $1.81 and a 52-week high of $5.09. The company has a debt ratio of 0.97, a current ratio of 0.39 and a quick ratio of 0.39.
Energy Ring (NYSEAMERICAN:REI – Get a rating) last released its quarterly earnings data on Tuesday, May 10. The company reported earnings per share (EPS) of $0.21 for the quarter, beating the consensus estimate of $0.17 by $0.04. The company posted revenue of $68.18 million in the quarter, versus analyst estimates of $54.10 million. Ring Energy had a return on equity of 10.23% and a net margin of 1.69%. Stock analysts predict Ring Energy, Inc. will post 0.61 earnings per share for the current fiscal year.
Insider Activity at Ring Energy
Separately, major shareholder William R. Kruse purchased 507,214 shares of the company in a transaction on Monday, August 1. The shares were purchased at an average price of $2.67 per share, with a total value of $1,354,261.38. Following the completion of the purchase, the insider now directly owns 13,446,948 shares of the company, valued at approximately $35,903,351.16. The transaction was disclosed in a legal filing with the SEC, which is available via this hyperlink. 1.30% of the shares are held by insiders.
Ring Energy Company Profile
Ring Energy, Inc, an exploration and production company, is engaged in the acquisition, exploration, development and production of oil and natural gas in Texas and New Mexico. As of December 31, 2021, the company’s proven reserves consisted of approximately 77.8 million barrels of oil equivalent. It also held interests in 18,882 net developed acres and 1,406 net undeveloped acres in Andrews and Gaines counties, Texas; 18,437 net developed acres in Culberson and Reeves counties, Texas; and 13,662 net developed acres and 11,993 net undeveloped acres in Yoakum, Runnels and Coke counties, Texas and Lea County, New Mexico.
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