Millennium Management LLC Buys 846,241 Shares of Ring Energy, Inc. (NYSEAMERICAN:REI)

Millennium Management LLC lifted its position in shares of Ring Energy, Inc. (NYSEAMERICAN:REI - Free Report) by 358.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,082,632 shares of the company's stock after purchasing an additional 846,241 shares during the quarter. Millennium Management LLC owned about 0.55% of Ring Energy worth $1,472,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Graham Capital Management L.P. grew 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 worth $348,000 after purchasing an additional 158,548 shares during the period. Deutsche Bank AG grew 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 worth $296,000 after purchasing an additional 77,658 shares during the period. D. E. Shaw & Co. Inc. grew 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 worth $570,000 after purchasing an additional 64,055 shares during the period. Cetera Investment Advisers grew 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 worth $123,000 after purchasing an additional 45,822 shares during the period. Finally, Bank of America Corp DE grew its holdings in Ring Energy by 49.0% in the fourth quarter. Bank of America Corp DE now owns 229,458 shares of the company's stock worth $312,000 after purchasing an additional 75,507 shares during the period. 77.14% of the stock is currently owned by institutional investors.

Insider Transactions at Ring Energy

In other Ring Energy news, major shareholder Warburg Pincus (E&P) Xii Llc sold 300,000 shares of Ring Energy stock in a transaction on Monday, May 12th. The shares were sold at an average price of $0.90, for a total value of $270,000.00. Following the completion of the transaction, the insider now directly owns 28,645,643 shares of the company's stock, valued at $25,781,078.70. This trade represents a 1.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John A. Crum bought 50,000 shares of the stock in a transaction dated Tuesday, April 1st. The stock was purchased at an average price of $1.15 per share, with a total value of $57,500.00. Following the acquisition, the director now directly owns 564,125 shares in the company, valued at approximately $648,743.75. The trade was a 9.73% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 313,203 shares of company stock valued at $323,430 and sold 4,065,038 shares valued at $3,385,064. Corporate insiders own 2.60% of the company's stock.

Analyst Ratings Changes

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

Ring Energy Stock Performance

REI traded up $0.03 during trading on Friday, hitting $0.77. The company's stock had a trading volume of 1,881,391 shares, compared to its average volume of 1,948,841. The business's 50 day simple moving average is $0.85 and its 200-day simple moving average is $1.26. 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 firm has a market cap of $153.05 million, a PE ratio of 1.35 and a beta of 1.55. Ring Energy, Inc. has a one year low of $0.72 and a one year high of $2.06.

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.