Teacher Retirement System of Texas reduced its holdings in Ring Energy Inc (NYSEAMERICAN:REI) by 26.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,526 shares of the company’s stock after selling 4,584 shares during the period. Teacher Retirement System of Texas’ holdings in Ring Energy were worth $180,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. grew its holdings in shares of Ring Energy by 2.4% during the 4th quarter. BlackRock Inc. now owns 3,433,361 shares of the company’s stock worth $47,724,000 after purchasing an additional 80,793 shares in the last quarter. Encompass Capital Advisors LLC grew its holdings in shares of Ring Energy by 1.5% during the 4th quarter. Encompass Capital Advisors LLC now owns 2,692,102 shares of the company’s stock worth $37,420,000 after purchasing an additional 40,592 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in shares of Ring Energy by 77.5% during the 1st quarter. Thompson Siegel & Walmsley LLC now owns 1,477,611 shares of the company’s stock worth $21,203,000 after purchasing an additional 645,056 shares in the last quarter. Phocas Financial Corp. grew its holdings in shares of Ring Energy by 4.3% during the 4th quarter. Phocas Financial Corp. now owns 1,398,675 shares of the company’s stock worth $19,442,000 after purchasing an additional 57,388 shares in the last quarter. Finally, Hodges Capital Management Inc. grew its holdings in shares of Ring Energy by 33.0% during the 1st quarter. Hodges Capital Management Inc. now owns 1,201,680 shares of the company’s stock worth $17,244,000 after purchasing an additional 298,100 shares in the last quarter.
Shares of REI stock opened at $13.14 on Thursday. Ring Energy Inc has a one year low of $11.58 and a one year high of $17.35.
Ring Energy (NYSEAMERICAN:REI) last announced its quarterly earnings results on Tuesday, May 8th. The company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.04). The company had revenue of $29.89 million during the quarter, compared to analyst estimates of $29.57 million. Ring Energy had a net margin of 18.47% and a return on equity of 3.75%.
REI has been the topic of several recent research reports. Zacks Investment Research lowered Ring Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 20th. B. Riley set a $20.00 price objective on Ring Energy and gave the stock a “buy” rating in a report on Tuesday, March 20th. Finally, Stephens reissued a “buy” rating and set a $19.00 price objective on shares of Ring Energy in a report on Tuesday, April 24th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $19.00.
About Ring Energy
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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