Alyeska Investment Group L.P. Acquires Shares of 714,423 Ring Energy, Inc. $REI

Alyeska Investment Group L.P. purchased a new position in Ring Energy, Inc. (NYSEAMERICAN:REI - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 714,423 shares of the company's stock, valued at approximately $772,000. Alyeska Investment Group L.P. owned 0.27% of Ring Energy at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of REI. PEAK6 LLC purchased a new position in Ring Energy during the second quarter valued at $18,446,000. BlackRock Inc. purchased a new position in Ring Energy in the 2nd quarter valued at about $13,053,000. Vanguard Group Inc. increased its stake in Ring Energy by 18.0% during the 3rd quarter. Vanguard Group Inc. now owns 10,613,683 shares of the company's stock worth $11,569,000 after buying an additional 1,617,668 shares in the last quarter. Barclays PLC raised its holdings in shares of Ring Energy by 32.8% during the third quarter. Barclays PLC now owns 8,000,090 shares of the company's stock valued at $8,720,000 after acquiring an additional 1,975,000 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Ring Energy by 22.5% during the second quarter. Ameriprise Financial Inc. now owns 6,051,151 shares of the company's stock valued at $4,805,000 after acquiring an additional 1,109,514 shares during the last quarter. Hedge funds and other institutional investors own 77.14% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Bank of America began coverage on shares of Ring Energy in a report on Wednesday, July 15th. They set a "buy" rating and a $2.00 target price for the company. Zacks Research downgraded shares of Ring Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $2.00.

Insider Buying and Selling

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

Ring Energy Stock Up 2.0%

Shares of NYSEAMERICAN:REI opened at $1.50 on Wednesday. The business has a 50-day moving average price of $1.26 and a 200 day moving average price of $1.36. The company has a current ratio of 0.54, a quick ratio of 0.49 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $390.78 million, a price-to-earnings ratio of -1.36, a PEG ratio of 0.32 and a beta of 0.83. Ring Energy, Inc. has a 12-month low of $0.83 and a 12-month high of $2.00.

Ring Energy (NYSEAMERICAN:REI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.10 EPS for the quarter, topping 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 firm had revenue of $104.68 million for the quarter, compared to analyst estimates of $93.29 million. Sell-side analysts expect that Ring Energy, Inc. will post 0.11 EPS for the current year.

Ring Energy Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source