Corient Private Wealth LLC Lowers Stock Position in Ring Energy, Inc. (NYSEAMERICAN:REI)

Corient Private Wealth LLC trimmed its stake in Ring Energy, Inc. (NYSEAMERICAN:REI) by 70.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 23,600 shares of the company’s stock after selling 57,300 shares during the period. Corient Private Wealth LLC’s holdings in Ring Energy were worth $32,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position 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 in the last quarter. Geode Capital Management LLC grew its stake in Ring Energy by 34.6% during 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 position in Ring Energy by 0.6% during the third quarter. State Street Corp now owns 2,398,808 shares of the company’s stock worth $3,838,000 after buying an additional 13,495 shares during the period. Empowered Funds LLC lifted its stake in Ring Energy by 5.1% in 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 last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Ring Energy by 22.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 463,720 shares of the company’s stock valued at $631,000 after acquiring an additional 84,973 shares during the period. Hedge funds and other institutional investors own 77.14% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Ring Energy

In other news, major shareholder Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of the company’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 transaction, the insider now owns 28,945,643 shares in the company, valued at $35,603,140.89. This represents a 18.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Paul D. Mckinney bought 200,000 shares of the company’s stock in a transaction on Monday, March 10th. The stock was purchased at an average cost of $1.08 per share, for a total transaction of $216,000.00. Following the completion of the transaction, the chief executive officer now owns 2,966,054 shares in the company, valued at approximately $3,203,338.32. The trade was 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 Stock Up 0.9 %

Shares of NYSEAMERICAN REI opened at $1.17 on Thursday. The firm has a market capitalization of $231.89 million, a PE ratio of 2.05 and a beta of 1.55. The company’s 50 day moving average price is $1.29. 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 52-week low of $1.05 and a 52-week high of $2.20.

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.