Cortina Asset Management LLC trimmed its holdings in Ring Energy Inc (NYSEAMERICAN:REI) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 397,316 shares of the company’s stock after selling 13,176 shares during the period. Cortina Asset Management LLC’s holdings in Ring Energy were worth $5,523,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. UBS Asset Management Americas Inc. boosted its stake in 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. Victory Capital Management Inc. raised its holdings in shares of Ring Energy by 7.0% in the 4th quarter. Victory Capital Management Inc. now owns 132,282 shares of the company’s stock worth $1,839,000 after purchasing an additional 8,620 shares during the period. Teacher Retirement System of Texas purchased a new position in shares of Ring Energy in the 4th quarter worth about $238,000. Fisher Asset Management LLC raised its holdings in shares of Ring Energy by 12.0% in the 4th quarter. Fisher Asset Management LLC now owns 226,201 shares of the company’s stock worth $3,144,000 after purchasing an additional 24,307 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of Ring Energy by 13.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 246,837 shares of the company’s stock worth $3,432,000 after purchasing an additional 29,816 shares during the period.
Shares of Ring Energy Inc (NYSEAMERICAN:REI) opened at $13.57 on Thursday. The company has a market capitalization of $794.53, a PE ratio of 125.36 and a beta of 0.23. Ring Energy Inc has a twelve month low of $9.22 and a twelve month high of $16.09.
A number of equities analysts have recently commented on the company. Zacks Investment Research downgraded Ring Energy from a “strong-buy” rating to a “hold” rating in a report on Saturday, January 13th. Roth Capital set a $22.00 price objective on Ring Energy and gave the stock a “buy” rating in a report on Tuesday, January 16th. KLR Group assumed coverage on Ring Energy in a report on Thursday, January 11th. They issued a “buy” rating on the stock. SunTrust Banks restated a “buy” rating and issued a $19.00 price objective on shares of Ring Energy in a report on Friday, November 10th. Finally, Northland Securities set a $18.00 price objective on Ring Energy and gave the stock a “buy” rating in a report on Monday, December 11th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $19.00.
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Ring Energy Company Profile
Ring Energy, Inc (Ring) is an exploration and production company that is engaged in oil and natural gas acquisition, exploration, development and production activities. The Company’s exploration and production interests are focused on Texas and Kansas. Its operations are all oil and gas exploration and production related activities in the United States.
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