UBS Group AG Sells 650,045 Shares of Ring Energy, Inc. $REI

UBS Group AG trimmed its position in Ring Energy, Inc. (NYSEAMERICAN:REI) by 16.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,283,223 shares of the company’s stock after selling 650,045 shares during the period. UBS Group AG owned approximately 1.58% of Ring Energy worth $2,856,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in REI. AQR Capital Management LLC increased its position in Ring Energy by 28.6% in the 1st quarter. AQR Capital Management LLC now owns 3,350,472 shares of the company’s stock valued at $3,853,000 after buying an additional 744,284 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Ring Energy in the 1st quarter valued at about $42,000. Empowered Funds LLC increased its position in Ring Energy by 8.6% in the 1st quarter. Empowered Funds LLC now owns 783,428 shares of the company’s stock valued at $901,000 after buying an additional 62,317 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Ring Energy in the 2nd quarter valued at about $439,000. Finally, Jump Financial LLC bought a new stake in Ring Energy in the 2nd quarter valued at about $31,000. 77.14% of the stock is owned by institutional investors.

Ring Energy Stock Performance

Shares of REI opened at $1.38 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.36 and a current ratio of 0.40. The stock has a 50 day moving average price of $1.50 and a two-hundred day moving average price of $1.22. The firm has a market capitalization of $288.99 million, a P/E ratio of -1.09 and a beta of 0.92. Ring Energy, Inc. has a 52 week low of $0.72 and a 52 week high of $2.00.

Ring Energy (NYSEAMERICAN:REI) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $73.67 million during the quarter, compared to analyst estimates of $69.90 million. Ring Energy had a positive return on equity of 5.10% and a negative net margin of 87.63%. Equities analysts forecast that Ring Energy, Inc. will post 0.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Zacks Research raised Ring Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat, Ring Energy currently has a consensus rating of “Strong Buy” and a consensus price target of $2.50.

Ring Energy Company Profile

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.