Goldman Sachs Group Inc. Reduces Stake in Ring Energy, Inc. $REI

Key Points

• Goldman Sachs Group Inc. reduced its stake in Ring Energy, Inc. by 33.5% during the first quarter, now owning approximately 0.38% of the company.
• Other investors, like Arkadios Wealth Advisors and CWM LLC, significantly increased their holdings in Ring Energy by 97.7% and 99.3%, respectively, during the same period.
• Despite the stake reduction by Goldman Sachs, Ring Energy's stock price rose 4.1%, currently trading at $1.02 per share, with a market capitalization of $210.67 million.

Goldman Sachs Group Inc. lowered its holdings in Ring Energy, Inc. (NYSEAMERICAN:REI - Free Report) by 33.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 783,618 shares of the company's stock after selling 394,814 shares during the quarter. Goldman Sachs Group Inc. owned about 0.38% of Ring Energy worth $901,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Arkadios Wealth Advisors boosted its position in shares of Ring Energy by 97.7% in the 1st quarter. Arkadios Wealth Advisors now owns 23,429 shares of the company's stock valued at $27,000 after purchasing an additional 11,579 shares during the period. CWM LLC increased its position in Ring Energy by 99.3% during the first quarter. CWM LLC now owns 27,773 shares of the company's stock worth $32,000 after buying an additional 13,840 shares in the last quarter. Ullmann Wealth Partners Group LLC increased its position in Ring Energy by 95.2% during the first quarter. Ullmann Wealth Partners Group LLC now owns 28,698 shares of the company's stock worth $33,000 after buying an additional 13,996 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ring Energy during the first quarter worth $42,000. Finally, Diversified Trust Co boosted its holdings in shares of Ring Energy by 51.0% during the first quarter. Diversified Trust Co now owns 45,531 shares of the company's stock worth $52,000 after purchasing an additional 15,377 shares during the last quarter. 77.14% of the stock is owned by institutional investors and hedge funds.

Ring Energy Stock Up 4.1%

REI stock opened at $1.02 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.63 and a quick ratio of 0.58. The company has a 50-day moving average of $0.91 and a two-hundred day moving average of $0.91. Ring Energy, Inc. has a 52-week low of $0.72 and a 52-week high of $1.81. The stock has a market capitalization of $210.67 million, a price-to-earnings ratio of 2.91 and a beta of 1.02.

Analyst Upgrades and Downgrades

REI has been the topic of a number of recent research reports. Zacks Research upgraded Ring Energy from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. Alliance Global Partners assumed coverage on Ring Energy in a report on Friday, July 11th. They issued a "buy" rating and a $2.50 price objective for the company. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $2.50.

Ring Energy Company Profile

Ring Energy, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties. The company has interests in 56,711 net developed acres and 2,668 net undeveloped acres in Andrews, Gaines, Crane, Ector, Winkler, and Ward counties, Texas; and 8,751 net developed acres and 12,405 net undeveloped acres in Yoakum County, Texas and Lea County, New Mexico.

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