Rhumbline Advisers Trims Stock Position in Ring Energy, Inc. (NYSEAMERICAN:REI)

Rhumbline Advisers trimmed its stake in Ring Energy, Inc. (NYSEAMERICAN:REI) by 30.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 209,654 shares of the company’s stock after selling 93,649 shares during the period. Rhumbline Advisers owned approximately 0.11% of Ring Energy worth $285,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Ring Energy by 0.6% in the 3rd quarter. State Street Corp now owns 2,398,808 shares of the company’s stock valued at $3,838,000 after acquiring an additional 13,495 shares during the period. CreativeOne Wealth LLC acquired a new stake in shares of Ring Energy during the third quarter worth about $26,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Ring Energy by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 378,747 shares of the company’s stock worth $606,000 after buying an additional 16,952 shares during the last quarter. Victory Capital Management Inc. increased its position in Ring Energy by 22.4% in the 3rd quarter. Victory Capital Management Inc. now owns 119,079 shares of the company’s stock valued at $191,000 after acquiring an additional 21,801 shares during the period. Finally, Virtu Financial LLC purchased a new stake in Ring Energy during the 3rd quarter valued at approximately $39,000. 77.14% of the stock is currently owned by institutional investors and hedge funds.

Ring Energy Price Performance

Shares of REI stock opened at $1.09 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.54 and a quick ratio of 0.49. Ring Energy, Inc. has a 1-year low of $1.08 and a 1-year high of $2.20. The business’s fifty day simple moving average is $1.35. The firm has a market capitalization of $216.04 million, a price-to-earnings ratio of 1.91 and a beta of 1.55.

Insider Buying and Selling at Ring Energy

In related news, major shareholder Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of Ring Energy stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $1.23, for a total transaction of $8,087,250.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Ring Energy from a “buy” rating to a “hold” rating in a report on Thursday, November 14th.

Ring Energy Company Profile

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.