StockNews.com upgraded shares of Ring Energy (NYSEAMERICAN:REI – Free Report) from a hold rating to a buy rating in a research report released on Thursday morning.
Ring Energy Price Performance
Shares of REI opened at $1.86 on Thursday. Ring Energy has a twelve month low of $1.25 and a twelve month high of $2.20. The company has a current ratio of 0.50, a quick ratio of 0.45 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $368.60 million, a PE ratio of 4.65 and a beta of 1.70.
Institutional Trading of Ring Energy
Institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its stake in Ring Energy by 15.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 60,334 shares of the company’s stock valued at $102,000 after purchasing an additional 8,165 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Ring Energy by 4.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,574,169 shares of the company’s stock valued at $6,040,000 after acquiring an additional 136,109 shares during the period. Marshall Wace LLP purchased a new position in Ring Energy in the 2nd quarter worth $60,000. XTX Topco Ltd lifted its position in Ring Energy by 399.8% during the 2nd quarter. XTX Topco Ltd now owns 241,869 shares of the company’s stock worth $409,000 after acquiring an additional 193,474 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its stake in Ring Energy by 8.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 71,469 shares of the company’s stock valued at $121,000 after purchasing an additional 5,672 shares during the last quarter. 77.14% of the stock is currently owned by institutional investors.
About Ring Energy
Ring Energy, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties. The company has interests in 56,711 net developed acres and 2,668 net undeveloped acres in Andrews, Gaines, Crane, Ector, Winkler, and Ward counties, Texas; and 8,751 net developed acres and 12,405 net undeveloped acres in Yoakum County, Texas and Lea County, New Mexico.
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