Ring Energy (NYSEAMERICAN:REI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, September 20th.

According to Zacks, “Ring Energy, Inc. is engaged in the exploration and development of oil and gas. The company operates primarily in Texas and Kansas. Ring Energy, Inc. is based in TULSA, United States. “

NYSEAMERICAN REI traded up $0.14 on Thursday, hitting $8.14. 552,441 shares of the company’s stock were exchanged, compared to its average volume of 729,278. Ring Energy has a fifty-two week low of $7.56 and a fifty-two week high of $17.35.

Ring Energy (NYSEAMERICAN:REI) last released its quarterly earnings results on Wednesday, August 8th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The firm had revenue of $29.93 million during the quarter, compared to analyst estimates of $30.05 million. Ring Energy had a return on equity of 3.75% and a net margin of 18.47%.

In other Ring Energy news, Director Stanley Myron Mccabe sold 100,000 shares of the firm’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $11.23, for a total value of $1,123,000.00. Following the transaction, the director now directly owns 1,720,634 shares of the company’s stock, valued at $19,322,719.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President David A. Fowler sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $11.54, for a total value of $115,400.00. Following the completion of the transaction, the president now directly owns 135,200 shares in the company, valued at $1,560,208. The disclosure for this sale can be found here. In the last three months, insiders have sold 370,375 shares of company stock worth $4,183,691.

A number of large investors have recently added to or reduced their stakes in REI. Rhumbline Advisers grew its stake in shares of Ring Energy by 167.2% during the first quarter. Rhumbline Advisers now owns 120,803 shares of the company’s stock valued at $1,734,000 after acquiring an additional 75,592 shares in the last quarter. Comerica Bank acquired a new position in Ring Energy in the first quarter worth about $928,000. Prudential Financial Inc. acquired a new position in Ring Energy in the first quarter worth about $1,270,000. Swiss National Bank grew its stake in Ring Energy by 17.4% in the first quarter. Swiss National Bank now owns 98,332 shares of the company’s stock worth $1,411,000 after purchasing an additional 14,600 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Ring Energy by 8.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 266,888 shares of the company’s stock worth $3,830,000 after purchasing an additional 20,051 shares in the last quarter.

Ring Energy Company 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, 2017, the company's proved reserves consisted of approximately 31.9 million barrel of oil equivalent. As of the above date, it also had interests in 8,102 net developed acres and 61,772 net undeveloped acres in Andrews and Gaines counties; and 10,235 net developed acres and 9,682 net undeveloped acres in Culberson and Reeves counties.

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