Vaughan Nelson Investment Management L.P. reduced its stake in Ring Energy (NYSEAMERICAN:REI) by 5.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,584,974 shares of the company’s stock after selling 83,751 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 2.62% of Ring Energy worth $22,745,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Jefferies Group LLC bought a new stake in shares of Ring Energy in the 4th quarter worth about $229,000. Teacher Retirement System of Texas bought a new stake in shares of Ring Energy in the 4th quarter worth about $238,000. UBS Asset Management Americas Inc. increased its holdings in shares of Ring Energy by 73.1% in the 4th quarter. UBS Asset Management Americas Inc. now owns 17,995 shares of the company’s stock worth $250,000 after buying an additional 7,600 shares during the last quarter. Invictus RG bought a new stake in shares of Ring Energy in the 4th quarter worth about $257,000. Finally, Signaturefd LLC bought a new stake in shares of Ring Energy in the 1st quarter worth about $309,000.
REI has been the topic of a number of research reports. B. Riley initiated coverage on shares of Ring Energy in a report on Monday, February 5th. They issued a “buy” rating and a $22.00 target price on the stock. Stephens restated a “buy” rating and issued a $19.00 target price on shares of Ring Energy in a report on Tuesday, April 24th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $19.00.
Ring Energy opened at $14.96 on Friday, MarketBeat reports. Ring Energy has a 1 year low of $10.88 and a 1 year high of $17.35.
Ring Energy (NYSEAMERICAN:REI) last released its quarterly earnings data on Tuesday, May 8th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.04). The company had revenue of $29.89 million during the quarter, compared to analysts’ expectations of $29.57 million. Ring Energy had a net margin of 18.47% and a return on equity of 3.75%.
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, 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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