Wellington Management Group LLP Raises Position in Ring Energy, Inc. (NYSEAMERICAN:REI)

Wellington Management Group LLP boosted its holdings in Ring Energy, Inc. (NYSEAMERICAN:REI) by 70.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 102,601 shares of the company’s stock after purchasing an additional 42,353 shares during the period. Wellington Management Group LLP owned about 0.05% of Ring Energy worth $140,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its holdings in Ring Energy by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 153,156 shares of the company’s stock valued at $209,000 after purchasing an additional 9,805 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in Ring Energy by 29.2% in the fourth quarter. MetLife Investment Management LLC now owns 54,504 shares of the company’s stock valued at $74,000 after purchasing an additional 12,312 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Ring Energy by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 41,736 shares of the company’s stock valued at $57,000 after purchasing an additional 13,733 shares during the last quarter. Vident Advisory LLC boosted its holdings in Ring Energy by 51.2% in the fourth quarter. Vident Advisory LLC now owns 43,557 shares of the company’s stock valued at $59,000 after purchasing an additional 14,753 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in Ring Energy by 103.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 32,499 shares of the company’s stock valued at $44,000 after purchasing an additional 16,558 shares during the last quarter. Hedge funds and other institutional investors own 77.14% of the company’s stock.

Insiders Place Their Bets

In related news, Director John A. Crum purchased 50,000 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were acquired at an average cost of $1.15 per share, for a total transaction of $57,500.00. Following the transaction, the director now owns 564,125 shares of the company’s stock, valued at $648,743.75. This trade represents a 9.73% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Warburg Pincus (E&P) Xii Llc sold 634,481 shares of the stock in a transaction that occurred 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 sale, the insider now owns 28,011,162 shares in the company, valued at $25,490,157.42. The trade was a 2.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,065,038 shares of company stock valued at $3,385,064 in the last quarter. Insiders own 2.60% of the company’s stock.

Ring Energy Trading Up 4.6%

NYSEAMERICAN:REI opened at $0.77 on Monday. The company has a quick ratio of 0.49, a current ratio of 0.54 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $0.85 and its two-hundred day moving average is $1.26. Ring Energy, Inc. has a 52 week low of $0.72 and a 52 week high of $2.06. The company has a market cap of $153.05 million, a PE ratio of 1.35 and a beta of 1.55.

Analysts Set New Price Targets

A number of research analysts have commented on the company. 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 Ring Energy in a 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.