Bank of New York Mellon Corp Sells 73,717 Shares of Ring Energy, Inc. (NYSEAMERICAN:REI)

Bank of New York Mellon Corp lessened its holdings in shares of Ring Energy, Inc. (NYSEAMERICAN:REI) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,086,936 shares of the company’s stock after selling 73,717 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.55% of Ring Energy worth $1,478,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in REI. CreativeOne Wealth LLC purchased a new position in Ring Energy during the third quarter valued at $26,000. Mraz Amerine & Associates Inc. purchased a new position in Ring Energy during the fourth quarter valued at $27,000. Virtu Financial LLC purchased a new position in Ring Energy during the third quarter valued at $39,000. R Squared Ltd purchased a new position in Ring Energy during the fourth quarter valued at $41,000. Finally, Capital Advisors Inc. OK purchased a new position in Ring Energy during the fourth quarter valued at $68,000. Institutional investors own 77.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on REI shares. Industrial Alliance Securities set a $2.50 price objective on Ring Energy in a research report on Friday, March 7th. Alliance Global Partners reaffirmed a “buy” rating on shares of Ring Energy in a research report on Friday, March 7th.

Insider Activity

In other Ring Energy news, CEO Paul D. Mckinney purchased 200,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average cost of $1.08 per share, with a total value of $216,000.00. Following the acquisition, the chief executive officer now owns 2,966,054 shares in the company, valued at approximately $3,203,338.32. This trade represents a 7.23 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 28,945,643 shares in the company, valued at approximately $35,603,140.89. This represents a 18.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Ring Energy Stock Down 4.0 %

Ring Energy stock opened at $1.19 on Friday. The company’s 50-day moving average price is $1.33. The company has a market cap of $235.86 million, a P/E ratio of 2.09 and a beta of 1.55. Ring Energy, Inc. has a 52-week low of $1.05 and a 52-week high of $2.20. The company has a current ratio of 0.54, a quick ratio of 0.49 and a debt-to-equity ratio of 0.46.

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.