ProShare Advisors LLC Increases Stock Holdings in Ring Energy, Inc. (NYSEAMERICAN:REI)

ProShare Advisors LLC increased its stake in shares of Ring Energy, Inc. (NYSEAMERICAN:REI) by 49.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,736 shares of the company’s stock after purchasing an additional 13,733 shares during the quarter. ProShare Advisors LLC’s holdings in Ring Energy were worth $57,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Millennium Management LLC lifted its holdings in Ring Energy by 358.0% in the fourth quarter. Millennium Management LLC now owns 1,082,632 shares of the company’s stock valued at $1,472,000 after acquiring an additional 846,241 shares during the period. Graham Capital Management L.P. lifted its holdings in Ring Energy by 162.5% in the fourth quarter. Graham Capital Management L.P. now owns 256,122 shares of the company’s stock valued at $348,000 after acquiring an additional 158,548 shares during the period. Deutsche Bank AG lifted its holdings in Ring Energy by 55.6% in the fourth quarter. Deutsche Bank AG now owns 217,452 shares of the company’s stock valued at $296,000 after acquiring an additional 77,658 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in Ring Energy by 18.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 419,011 shares of the company’s stock valued at $570,000 after acquiring an additional 64,055 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in Ring Energy by 103.1% in the fourth quarter. Cetera Investment Advisers now owns 90,257 shares of the company’s stock valued at $123,000 after acquiring an additional 45,822 shares during the period. 77.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Industrial Alliance Securities set a $2.50 target price on Ring Energy in a report on Friday, March 7th. Alliance Global Partners reissued a “buy” rating on shares of Ring Energy in a report on Friday, March 7th.

Insider Activity

In other news, major shareholder Warburg Pincus (E&P) Xii Llc sold 634,481 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $0.91, for a total value of $577,377.71. Following the completion of the transaction, the insider now owns 28,011,162 shares in the company, valued at $25,490,157.42. This trade represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Paul D. Mckinney purchased 200,000 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was purchased at an average price of $1.08 per share, with a total value of $216,000.00. Following the transaction, the chief executive officer now owns 2,966,054 shares of the company’s stock, valued at approximately $3,203,338.32. This represents a 7.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 313,203 shares of company stock worth $323,430 and sold 2,727,239 shares worth $2,352,700. Company insiders own 2.60% of the company’s stock.

Ring Energy Price Performance

Ring Energy stock opened at $0.77 on Wednesday. Ring Energy, Inc. has a one year low of $0.72 and a one year high of $2.06. The company has a market cap of $152.38 million, a P/E ratio of 1.35 and a beta of 1.55. The business has a fifty day moving average of $0.88 and a two-hundred day moving average of $1.27. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.49 and a current ratio of 0.54.

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.