De Lisle Partners LLP Invests $1.23 Million in Ring Energy, Inc. $REI

De Lisle Partners LLP acquired a new stake in shares of Ring Energy, Inc. (NYSEAMERICAN:REI) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,129,569 shares of the company’s stock, valued at approximately $1,226,000. De Lisle Partners LLP owned approximately 0.54% of Ring Energy at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Centiva Capital LP bought a new stake in shares of Ring Energy during the 3rd quarter worth $26,000. Sigma Planning Corp purchased a new stake in shares of Ring Energy during the first quarter worth $39,000. Barry Investment Advisors LLC boosted its stake in Ring Energy by 100.0% in the 1st quarter. Barry Investment Advisors LLC now owns 30,000 shares of the company’s stock worth $46,000 after purchasing an additional 15,000 shares during the period. DGS Capital Management LLC boosted its position in shares of Ring Energy by 65.4% in the fourth quarter. DGS Capital Management LLC now owns 31,196 shares of the company’s stock valued at $27,000 after acquiring an additional 12,331 shares during the period. Finally, HRT Financial LP purchased a new position in shares of Ring Energy during the 4th quarter valued at $31,000. Institutional investors own 77.14% of the company’s stock.

Ring Energy Price Performance

REI stock opened at $1.48 on Monday. The firm has a market cap of $385.57 million, a P/E ratio of -1.35, a P/E/G ratio of 0.32 and a beta of 0.79. The firm’s fifty day moving average is $1.22 and its 200 day moving average is $1.35. Ring Energy, Inc. has a 52 week low of $0.83 and a 52 week high of $2.00. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.49 and a current ratio of 0.54.

Ring Energy (NYSEAMERICAN:REI) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. Ring Energy had a negative net margin of 68.02% and a positive return on equity of 5.55%. The business had revenue of $104.68 million during the quarter, compared to analyst estimates of $93.29 million. Research analysts predict that Ring Energy, Inc. will post 0.11 earnings per share for the current year.

Insider Transactions at Ring Energy

In related news, CEO Paul D. Mckinney purchased 50,000 shares of Ring Energy stock in a transaction that occurred on Monday, June 15th. The shares were acquired at an average cost of $1.19 per share, for a total transaction of $59,500.00. Following the transaction, the chief executive officer directly owned 4,158,463 shares in the company, valued at $4,948,570.97. The trade was a 1.22% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sundip Singh Johl purchased 231,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was bought at an average cost of $1.21 per share, for a total transaction of $279,510.00. Following the completion of the purchase, the executive vice president directly owned 548,460 shares in the company, valued at approximately $663,636.60. This trade represents a 72.77% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 3.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on REI shares. Bank of America assumed coverage on Ring Energy in a report on Wednesday, July 15th. They issued a “buy” rating and a $2.00 price target on the stock. Zacks Research downgraded shares of Ring Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2.00.

Ring Energy 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.