Ethic Inc. Has $55,000 Stock Holdings in Ring Energy, Inc. (NYSEAMERICAN:REI)

Ethic Inc. trimmed its position in Ring Energy, Inc. (NYSEAMERICAN:REI) by 31.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,331 shares of the company’s stock after selling 18,709 shares during the quarter. Ethic Inc.’s holdings in Ring Energy were worth $55,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of REI. Ameriprise Financial Inc. increased its position in Ring Energy by 1.0% during the fourth quarter. Ameriprise Financial Inc. now owns 5,332,208 shares of the company’s stock worth $7,252,000 after acquiring an additional 51,577 shares during the period. Geode Capital Management LLC increased its holdings in Ring Energy by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 3,060,543 shares of the company’s stock valued at $4,163,000 after buying an additional 89,614 shares during the period. Marshall Wace LLP bought a new stake in Ring Energy in the 4th quarter valued at $1,378,000. First Trust Advisors LP increased its holdings in Ring Energy by 17.6% in the 4th quarter. First Trust Advisors LP now owns 974,232 shares of the company’s stock valued at $1,325,000 after buying an additional 145,786 shares during the period. Finally, Segall Bryant & Hamill LLC bought a new stake in Ring Energy in the 4th quarter valued at $1,167,000. 77.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in 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 target price on shares of Ring Energy in a report on Friday, March 7th.

Ring Energy Stock Down 1.6%

Shares of NYSEAMERICAN REI opened at $0.82 on Monday. The firm’s 50-day simple moving average is $0.98 and its 200 day simple moving average is $1.32. The company has a market cap of $163.06 million, a price-to-earnings ratio of 1.44 and a beta of 1.55. The company has a quick ratio of 0.49, a current ratio of 0.54 and a debt-to-equity ratio of 0.46. Ring Energy, Inc. has a 12-month low of $0.78 and a 12-month high of $2.06.

Insider Buying and Selling

In related news, 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 shares were 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. This trade represents a 18.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Paul D. Mckinney purchased 200,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of $1.08 per share, for a total transaction of $216,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,966,054 shares in the company, valued at $3,203,338.32. This trade represents a 7.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 7,965,136 shares of company stock worth $9,340,161 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Ring Energy Company 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.