Wellington Management Group LLP Increases Stock Position in Ring Energy, Inc. (NYSEAMERICAN:REI)

Wellington Management Group LLP raised its stake in shares of Ring Energy, Inc. (NYSEAMERICAN:REI) by 70.3% in the 4th quarter, Holdings Channel reports. The firm owned 102,601 shares of the company’s stock after acquiring an additional 42,353 shares during the period. Wellington Management Group LLP’s holdings in Ring Energy were worth $140,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in REI. Mraz Amerine & Associates Inc. bought a new stake in shares of Ring Energy in the 4th quarter worth about $27,000. Virtu Financial LLC bought a new stake in Ring Energy during the third quarter worth approximately $39,000. R Squared Ltd purchased a new stake in Ring Energy during the fourth quarter valued at approximately $41,000. Sequoia Financial Advisors LLC lifted its stake in shares of Ring Energy by 103.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 32,499 shares of the company’s stock valued at $44,000 after purchasing an additional 16,558 shares during the last quarter. Finally, Capital Advisors Inc. OK purchased a new position in shares of Ring Energy in the 4th quarter worth approximately $68,000. Hedge funds and other institutional investors own 77.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on REI. Alliance Global Partners restated a “buy” rating on shares of Ring Energy in a report on Friday, March 7th. Industrial Alliance Securities set a $2.50 target price on shares of Ring Energy in a research note on Friday, March 7th.

Ring Energy Stock Up 2.3 %

Shares of NYSEAMERICAN:REI opened at $0.82 on Wednesday. The firm has a market capitalization of $162.19 million, a PE ratio of 1.44 and a beta of 1.55. The business has a 50 day simple moving average of $1.17 and a two-hundred day simple moving average of $1.40. Ring Energy, Inc. has a 1 year low of $0.78 and a 1 year high of $2.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.54 and a quick ratio of 0.49.

Insider Buying and Selling

In other Ring Energy news, Director John A. Crum bought 50,000 shares of Ring Energy stock in a transaction on Tuesday, April 1st. The shares were acquired at an average price of $1.15 per share, for a total transaction of $57,500.00. Following the completion of the purchase, the director now directly owns 564,125 shares in the company, valued at approximately $648,743.75. This trade represents a 9.73 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of Ring Energy stock in a transaction 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

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.