Charles Schwab Investment Management Inc. Buys 84,973 Shares of Ring Energy, Inc. (NYSEAMERICAN:REI)

Charles Schwab Investment Management Inc. grew its stake in shares of Ring Energy, Inc. (NYSEAMERICAN:REI) by 22.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 463,720 shares of the company’s stock after purchasing an additional 84,973 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.23% of Ring Energy worth $631,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of Ring Energy by 4,564.9% in 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 last quarter. Geode Capital Management LLC grew its position in shares of Ring Energy by 34.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,970,929 shares of the company’s stock worth $4,754,000 after buying an additional 763,907 shares during the last quarter. State Street Corp increased its stake in shares of Ring Energy by 0.6% during the third quarter. State Street Corp now owns 2,398,808 shares of the company’s stock valued at $3,838,000 after buying an additional 13,495 shares during the period. Empowered Funds LLC increased its stake in shares of Ring Energy by 5.1% during the fourth quarter. Empowered Funds LLC now owns 721,111 shares of the company’s stock valued at $981,000 after buying an additional 34,857 shares during the period. Finally, XTX Topco Ltd raised its holdings in shares of Ring Energy by 42.3% during the third quarter. XTX Topco Ltd now owns 344,225 shares of the company’s stock valued at $551,000 after acquiring an additional 102,356 shares in the last quarter. Hedge funds and other institutional investors own 77.14% of the company’s stock.

Ring Energy Price Performance

Shares of NYSEAMERICAN:REI opened at $1.15 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.49 and a current ratio of 0.54. Ring Energy, Inc. has a 1 year low of $1.05 and a 1 year high of $2.20. The company has a market capitalization of $227.93 million, a P/E ratio of 2.02 and a beta of 1.55. The firm’s fifty day simple moving average is $1.30.

Insiders Place Their Bets

In other Ring Energy news, CEO Paul D. Mckinney acquired 200,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average price of $1.08 per share, with a total value of $216,000.00. Following the completion of the acquisition, the chief executive officer now owns 2,966,054 shares in the company, valued at $3,203,338.32. This represents a 7.23 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of the stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Alliance Global Partners reissued a “buy” rating on shares of Ring Energy in a research note on Friday, March 7th. Industrial Alliance Securities set a $2.50 target price on Ring Energy in a report on Friday, March 7th.

About Ring Energy

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.