Vanguard Group Inc. lifted its position in Ring Energy Inc (NYSEAMERICAN:REI) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,422,953 shares of the company’s stock after acquiring an additional 72,507 shares during the quarter. Vanguard Group Inc. owned 5.65% of Ring Energy worth $33,922,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in shares of Ring Energy during the third quarter valued at about $108,000. Quantbot Technologies LP purchased a new stake in Ring Energy in the third quarter valued at approximately $161,000. Jane Street Group LLC purchased a new stake in Ring Energy in the 2nd quarter worth approximately $165,000. LPL Financial LLC purchased a new stake in Ring Energy in the 3rd quarter worth approximately $172,000. Finally, PEAK6 Investments LLC purchased a new stake in Ring Energy in the 3rd quarter worth approximately $381,000.
Several research firms have commented on REI. Zacks Investment Research lowered Ring Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, January 22nd. Imperial Capital set a $8.00 target price on Ring Energy and gave the company a “buy” rating in a research report on Thursday, December 20th. SunTrust Banks reiterated a “buy” rating and set a $12.00 target price on shares of Ring Energy in a research report on Sunday, December 2nd. Capital One Financial lowered Ring Energy from an “overweight” rating to an “equal weight” rating in a research report on Thursday, December 20th. Finally, Ifs Securities reiterated an “outperform” rating on shares of Ring Energy in a research report on Monday, October 29th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Ring Energy presently has an average rating of “Buy” and a consensus target price of $14.20.
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Ring Energy Company Profile
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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