Connor Clark & Lunn Investment Management Ltd. Buys 18,059 Shares of Ring Energy, Inc. (NYSEAMERICAN:REI)

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Ring Energy, Inc. (NYSEAMERICAN:REIGet Rating) by 5.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 339,610 shares of the company’s stock after purchasing an additional 18,059 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.32% of Ring Energy worth $903,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Harvest Investment Services LLC bought a new position in Ring Energy in the second quarter valued at approximately $26,000. UBS Group AG raised its holdings in shares of Ring Energy by 252.1% during the first quarter. UBS Group AG now owns 9,292 shares of the company’s stock worth $36,000 after acquiring an additional 6,653 shares during the period. Barry Investment Advisors LLC acquired a new stake in shares of Ring Energy during the first quarter worth $38,000. Diversified Trust Co acquired a new stake in shares of Ring Energy during the second quarter worth $43,000. Finally, EPG Wealth Management LLC bought a new position in Ring Energy in the first quarter valued at $77,000. 29.20% of the stock is owned by institutional investors.

Ring Energy Trading Down 7.1 %

Shares of REI stock opened at $2.90 on Thursday. The stock has a market capitalization of $381.60 million, a PE ratio of -96.63 and a beta of 2.13. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.39 and a quick ratio of 0.39. Ring Energy, Inc. has a one year low of $2.02 and a one year high of $5.09.

Analyst Ratings Changes

Separately, Roth Capital lowered shares of Ring Energy from a “buy” rating to a “neutral” rating in a research note on Monday, August 1st.

Ring Energy Company Profile

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Ring Energy, Inc, an exploration and production company, engages in the acquisition, exploration, development, and production of oil and natural gas in Texas and New Mexico. As of December 31, 2021, the company's proved reserves consisted of approximately 77.8 million barrel of oil equivalent. It also had interests in 18,882 net developed acres and 1,406 net undeveloped acres in Andrews and Gaines counties, Texas; 18,437 net developed acres in Culberson and Reeves counties, Texas; and 13,662 net developed acres and 11,993 net undeveloped acres in Yoakum, Runnels, and Coke Counties, Texas and Lea County, New Mexico.

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Institutional Ownership by Quarter for Ring Energy (NYSEAMERICAN:REI)

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