Segall Bryant & Hamill LLC bought a new stake in Ring Energy, Inc. (NYSEAMERICAN:REI - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 857,928 shares of the company's stock, valued at approximately $1,167,000. Segall Bryant & Hamill LLC owned 0.43% of Ring Energy at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Virtu Financial LLC lifted its stake in shares of Ring Energy by 403.8% in the 4th quarter. Virtu Financial LLC now owns 123,507 shares of the company's stock worth $168,000 after acquiring an additional 98,993 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Ring Energy by 196.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 414,893 shares of the company's stock worth $564,000 after purchasing an additional 274,933 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Ring Energy by 103.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 32,499 shares of the company's stock valued at $44,000 after purchasing an additional 16,558 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Ring Energy by 47.7% during the 4th quarter. Victory Capital Management Inc. now owns 175,922 shares of the company's stock valued at $239,000 after purchasing an additional 56,843 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Ring Energy by 22.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 463,720 shares of the company's stock worth $631,000 after buying an additional 84,973 shares in the last quarter. Institutional investors and hedge funds own 77.14% of the company's stock.
Ring Energy Price Performance
Ring Energy stock traded down $0.01 during midday trading on Monday, reaching $1.15. The stock had a trading volume of 2,900,653 shares, compared to its average volume of 1,769,774. Ring Energy, Inc. has a twelve month low of $1.05 and a twelve month high of $2.20. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.49 and a current ratio of 0.54. The firm has a market cap of $227.93 million, a price-to-earnings ratio of 2.02 and a beta of 1.55. The firm has a fifty day moving average of $1.31.
Insider Transactions at Ring Energy
In other news, CEO Paul D. Mckinney bought 200,000 shares of the stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $1.08 per share, for a total transaction of $216,000.00. Following the completion of the purchase, the chief executive officer now directly 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $1.23, for a total value of $8,087,250.00. Following the sale, the insider now directly owns 28,945,643 shares of the company's stock, valued at $35,603,140.89. This trade represents a 18.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on REI. Alliance Global Partners reiterated a "buy" rating on shares of Ring Energy in a research report on Friday, March 7th. Industrial Alliance Securities set a $2.50 price target on Ring Energy in a research note on Friday, March 7th.
Check Out Our Latest Research Report on Ring Energy
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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