153,700 Shares in Ring Energy (REI) Acquired by Heartland Advisors Inc.
Heartland Advisors Inc. purchased a new position in shares of Ring Energy (NYSE:REI) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 153,700 shares of the company’s stock, valued at approximately $1,683,000. Heartland Advisors Inc. owned 0.37% of Ring Energy at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Wells Fargo & Company MN increased its stake in shares of Ring Energy by 25.0% in the third quarter. Wells Fargo & Company MN now owns 13,073 shares of the company’s stock worth $143,000 after buying an additional 2,613 shares during the period. BlackRock Advisors LLC increased its stake in shares of Ring Energy by 51.4% in the second quarter. BlackRock Advisors LLC now owns 17,040 shares of the company’s stock worth $150,000 after buying an additional 5,783 shares during the period. American International Group Inc. increased its stake in shares of Ring Energy by 69.5% in the second quarter. American International Group Inc. now owns 20,584 shares of the company’s stock worth $182,000 after buying an additional 8,443 shares during the period. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Ring Energy during the second quarter worth $259,000. Finally, TFS Capital LLC purchased a new stake in shares of Ring Energy during the second quarter worth $273,000.
Ring Energy (NYSE:REI) traded down 3.49% on Tuesday, hitting $11.62. The stock had a trading volume of 162,052 shares. The firm’s market cap is $487.08 million. The firm’s 50-day moving average price is $11.10 and its 200-day moving average price is $9.66. Ring Energy has a 1-year low of $4.00 and a 1-year high of $13.45.
Ring Energy (NYSE:REI) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. The firm earned $7.82 million during the quarter, compared to the consensus estimate of $7.99 million. On average, equities research analysts predict that Ring Energy will post $0.02 earnings per share for the current year.
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A number of equities research analysts have recently weighed in on REI shares. Zacks Investment Research upgraded Ring Energy from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Wednesday, September 21st. Rodman & Renshaw assumed coverage on Ring Energy in a report on Monday, August 29th. They issued a “buy” rating and a $15.00 price target for the company. Canaccord Genuity restated a “buy” rating and set a $14.00 price objective on shares of Ring Energy in a research note on Monday, November 14th. Robert W. Baird restated a “neutral” rating and set a $24.00 price objective on shares of Ring Energy in a research note on Monday, August 29th. Finally, Imperial Capital assumed coverage on Ring Energy in a research note on Tuesday, September 27th. They set an “outperform” rating and a $13.50 price objective for the company. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $12.78.
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