Neuburgh Advisers LLC Boosts Holdings in Ring Energy Inc (REI)
Neuburgh Advisers LLC boosted its position in shares of Ring Energy Inc (NYSEAMERICAN:REI) by 103.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 9,962 shares of the company’s stock after purchasing an additional 5,066 shares during the quarter. Neuburgh Advisers LLC’s holdings in Ring Energy were worth $126,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Penn Capital Management Co. Inc. bought a new stake in shares of Ring Energy during the 2nd quarter valued at $1,138,000. Northern Trust Corp raised its position in shares of Ring Energy by 2.8% during the 1st quarter. Northern Trust Corp now owns 725,111 shares of the company’s stock valued at $10,405,000 after acquiring an additional 19,865 shares during the last quarter. Mason Street Advisors LLC bought a new stake in shares of Ring Energy during the 1st quarter valued at $216,000. Rhumbline Advisers raised its position in shares of Ring Energy by 167.2% during the 1st quarter. Rhumbline Advisers now owns 120,803 shares of the company’s stock valued at $1,734,000 after acquiring an additional 75,592 shares during the last quarter. Finally, Comerica Bank bought a new stake in shares of Ring Energy during the 1st quarter valued at $928,000.
REI opened at $10.56 on Friday. Ring Energy Inc has a 12 month low of $10.55 and a 12 month high of $17.35.
In related news, President David A. Fowler sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $11.54, for a total value of $115,400.00. Following the completion of the sale, the president now owns 135,200 shares in the company, valued at approximately $1,560,208. The transaction was disclosed in a filing with the SEC, which is available through this link.
Separately, Zacks Investment Research cut shares of Ring Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 20th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Ring Energy has an average rating of “Buy” and an average price target of $19.14.
Ring Energy 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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