Sequoia Financial Advisors LLC increased its holdings in Ring Energy, Inc. (NYSEAMERICAN:REI – Free Report) by 103.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,499 shares of the company’s stock after buying an additional 16,558 shares during the period. Sequoia Financial Advisors LLC’s holdings in Ring Energy were worth $44,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in Ring Energy by 4,564.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,086,251 shares of the company’s stock valued at $4,938,000 after buying an additional 3,020,092 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Ring Energy by 34.6% during the third quarter. Geode Capital Management LLC now owns 2,970,929 shares of the company’s stock valued at $4,754,000 after acquiring an additional 763,907 shares during the last quarter. Franklin Resources Inc. increased its position in Ring Energy by 2,244.6% during the 3rd quarter. Franklin Resources Inc. now owns 235,168 shares of the company’s stock worth $381,000 after purchasing an additional 225,138 shares in the last quarter. ClearAlpha Technologies LP acquired a new position in Ring Energy in the 3rd quarter valued at about $250,000. Finally, Atria Investments Inc acquired a new position in Ring Energy in the 3rd quarter valued at about $230,000. 77.14% of the stock is owned by institutional investors and hedge funds.
Ring Energy Stock Performance
Shares of REI stock opened at $1.19 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.54 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $235.86 million, a price-to-earnings ratio of 2.09 and a beta of 1.55. Ring Energy, Inc. has a one year low of $1.05 and a one year high of $2.20. The stock’s 50 day moving average is $1.33.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the stock. Alliance Global Partners reiterated a “buy” rating on shares of Ring Energy in a report on Friday, March 7th. Industrial Alliance Securities set a $2.50 target price on shares of Ring Energy in a research report on Friday, March 7th.
Check Out Our Latest Report on Ring Energy
Insider Activity
In related news, major shareholder Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $1.23, for a total value of $8,087,250.00. Following the transaction, the insider now owns 28,945,643 shares in the company, valued at approximately $35,603,140.89. This trade represents a 18.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Paul D. Mckinney acquired 200,000 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were acquired at an average price of $1.08 per share, with a total value of $216,000.00. Following the completion of the purchase, the chief executive officer now owns 2,966,054 shares of the company’s stock, valued at $3,203,338.32. This trade represents a 7.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.60% of the company’s stock.
About Ring Energy
(Free Report)
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.
Further Reading
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