Connor Clark & Lunn Investment Management Ltd. Has $564,000 Stock Position in Ring Energy, Inc. (NYSEAMERICAN:REI)

Connor Clark & Lunn Investment Management Ltd. boosted its position in Ring Energy, Inc. (NYSEAMERICAN:REI) by 196.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 414,893 shares of the company’s stock after purchasing an additional 274,933 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.21% of Ring Energy worth $564,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of REI. Geode Capital Management LLC lifted its position in Ring Energy by 34.6% during the third quarter. Geode Capital Management LLC now owns 2,970,929 shares of the company’s stock worth $4,754,000 after acquiring an additional 763,907 shares during the last quarter. Barclays PLC lifted its position in Ring Energy by 272.6% during the third quarter. Barclays PLC now owns 194,186 shares of the company’s stock worth $311,000 after acquiring an additional 142,074 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Ring Energy by 4,564.9% during the third quarter. JPMorgan Chase & Co. now owns 3,086,251 shares of the company’s stock worth $4,938,000 after purchasing an additional 3,020,092 shares during the period. Franklin Resources Inc. increased its holdings in shares of Ring Energy by 2,244.6% during the third quarter. Franklin Resources Inc. now owns 235,168 shares of the company’s stock worth $381,000 after purchasing an additional 225,138 shares during the period. Finally, Wellington Management Group LLP bought a new position in shares of Ring Energy during the third quarter worth approximately $96,000. 77.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ring Energy

In related news, major shareholder Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of the business’s stock in a transaction 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 $35,603,140.89. The trade was a 18.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Paul D. Mckinney bought 200,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of $1.08 per share, for a total transaction of $216,000.00. Following the acquisition, 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. 2.60% of the stock is owned by company insiders.

Ring Energy Price Performance

Shares of Ring Energy stock opened at $1.19 on Friday. The firm has a market capitalization of $235.86 million, a price-to-earnings ratio of 2.09 and a beta of 1.55. The company has a 50 day moving average of $1.33. 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 fifty-two week low of $1.05 and a fifty-two week high of $2.20.

Wall Street Analyst Weigh In

REI has been the topic of a number of recent analyst reports. Industrial Alliance Securities set a $2.50 price objective on shares of Ring Energy in a research note on Friday, March 7th. Alliance Global Partners reissued a “buy” rating on shares of Ring Energy in a research note on Friday, March 7th.

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.