MetLife Investment Management LLC Has $74,000 Stock Position in Ring Energy, Inc. (NYSEAMERICAN:REI)

MetLife Investment Management LLC grew its position in Ring Energy, Inc. (NYSEAMERICAN:REI) by 29.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,504 shares of the company’s stock after purchasing an additional 12,312 shares during the period. MetLife Investment Management LLC’s holdings in Ring Energy were worth $74,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Ring Energy by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 3,060,543 shares of the company’s stock worth $4,163,000 after buying an additional 89,614 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Ring Energy during the 4th quarter worth about $1,378,000. First Trust Advisors LP boosted its stake in shares of Ring Energy by 17.6% during the 4th quarter. First Trust Advisors LP now owns 974,232 shares of the company’s stock worth $1,325,000 after acquiring an additional 145,786 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of Ring Energy during the 4th quarter valued at about $1,167,000. 77.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, CEO Paul D. Mckinney acquired 200,000 shares of Ring Energy stock in a transaction on Monday, March 10th. The stock was bought at an average price of $1.08 per share, for a total transaction of $216,000.00. Following the transaction, the chief executive officer now owns 2,966,054 shares of the company’s stock, valued at $3,203,338.32. The trade was a 7.23 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of Ring Energy stock in a transaction that occurred 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 directly owns 28,945,643 shares in the company, valued at $35,603,140.89. The trade was a 18.51 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Ring Energy Trading Up 3.4 %

Shares of NYSEAMERICAN:REI opened at $0.85 on Friday. Ring Energy, Inc. has a 52-week low of $0.78 and a 52-week high of $2.06. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.49 and a current ratio of 0.54. The company has a market cap of $167.97 million, a P/E ratio of 1.49 and a beta of 1.55. The stock’s 50-day moving average is $1.01 and its 200-day moving average is $1.34.

Ring Energy 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.