Wellington Management Group LLP Acquires 42,353 Shares of Ring Energy, Inc. (NYSEAMERICAN:REI)

Wellington Management Group LLP increased its holdings in shares of Ring Energy, Inc. (NYSEAMERICAN:REI) by 70.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 102,601 shares of the company’s stock after purchasing an additional 42,353 shares during the quarter. Wellington Management Group LLP owned 0.05% of Ring Energy worth $140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of REI. JPMorgan Chase & Co. lifted its stake in Ring Energy by 4,564.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,086,251 shares of the company’s stock valued at $4,938,000 after acquiring an additional 3,020,092 shares during the period. Segall Bryant & Hamill LLC bought a new position in Ring Energy during the fourth quarter valued at approximately $1,167,000. Geode Capital Management LLC boosted its holdings in Ring Energy by 34.6% in the third 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Ring Energy by 196.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 414,893 shares of the company’s stock worth $564,000 after purchasing an additional 274,933 shares during the last quarter. Finally, 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 during the period. 77.14% of the stock is owned by hedge funds and other institutional investors.

Ring Energy Stock Performance

Shares of NYSEAMERICAN REI opened at $0.82 on Wednesday. The company has a current ratio of 0.54, a quick ratio of 0.49 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 $2.09. The firm has a market capitalization of $162.19 million, a price-to-earnings ratio of 1.44 and a beta of 1.55. The firm has a 50 day moving average of $1.17 and a 200 day moving average of $1.40.

Insider Activity

In related news, Director John A. Crum acquired 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was bought at an average cost of $1.15 per share, for a total transaction of $57,500.00. Following the purchase, the director now owns 564,125 shares in the company, valued at $648,743.75. The trade was a 9.73 % increase in their position. The transaction was disclosed in a 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 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 directly owns 28,945,643 shares in the company, valued at $35,603,140.89. This represents a 18.51 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.