Connor Clark & Lunn Investment Management Ltd. Acquires 274,933 Shares of Ring Energy, Inc. (NYSEAMERICAN:REI)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Ring Energy, Inc. (NYSEAMERICAN:REI) by 196.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 414,893 shares of the company’s stock after acquiring an additional 274,933 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ring Energy were worth $564,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Ring Energy by 4,564.9% in the 3rd 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 position in 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 purchasing an additional 763,907 shares in the last quarter. Franklin Resources Inc. grew its position in Ring Energy by 2,244.6% in the 3rd quarter. Franklin Resources Inc. now owns 235,168 shares of the company’s stock worth $381,000 after purchasing an additional 225,138 shares in the last quarter. ClearAlpha Technologies LP bought a new stake in Ring Energy in the 3rd quarter worth about $250,000. Finally, Atria Investments Inc bought a new stake in Ring Energy in the 3rd quarter worth about $230,000. 77.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Alliance Global Partners reiterated a “buy” rating on shares of Ring Energy in a research note on Friday, March 7th. Industrial Alliance Securities set a $2.50 price target on shares of Ring Energy in a research note on Friday, March 7th.

Ring Energy Trading Down 4.0 %

Ring Energy stock opened at $1.19 on Friday. The business’s 50 day moving average price is $1.33. The company has a market cap of $235.86 million, a price-to-earnings ratio of 2.09 and a beta of 1.55. Ring Energy, Inc. has a 1-year low of $1.05 and a 1-year high of $2.20. The company has a quick ratio of 0.49, a current ratio of 0.54 and a debt-to-equity ratio of 0.46.

Insider Transactions at Ring Energy

In related news, major shareholder Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $1.23, for a total transaction of $8,087,250.00. Following the transaction, the insider now owns 28,945,643 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this link. Also, CEO Paul D. Mckinney bought 200,000 shares of Ring Energy stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average cost 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 in the company, valued at $3,203,338.32. The trade was a 7.23 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.60% of the company’s stock.

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.