Renaissance Technologies LLC Sells 300,696 Shares of Ring Energy, Inc. (NYSEAMERICAN:REI)

Renaissance Technologies LLC lowered its holdings in shares of Ring Energy, Inc. (NYSEAMERICAN:REI - Free Report) by 32.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 636,604 shares of the company's stock after selling 300,696 shares during the period. Renaissance Technologies LLC owned 0.32% of Ring Energy worth $866,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of REI. JPMorgan Chase & Co. lifted its holdings in shares of Ring Energy by 4,564.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,086,251 shares of the company's stock valued at $4,938,000 after buying an additional 3,020,092 shares during the period. Geode Capital Management LLC grew its holdings in Ring Energy by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 3,060,543 shares of the company's stock valued at $4,163,000 after purchasing an additional 89,614 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Ring Energy in the fourth quarter valued at $1,167,000. Empowered Funds LLC raised its stake in shares of Ring Energy by 5.1% during the 4th quarter. Empowered Funds LLC now owns 721,111 shares of the company's stock worth $981,000 after buying an additional 34,857 shares during the last quarter. Finally, Watchman Group Inc. raised its stake in shares of Ring Energy by 66.7% during the 4th quarter. Watchman Group Inc. now owns 500,000 shares of the company's stock worth $680,000 after buying an additional 200,000 shares during the last quarter. 77.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on REI shares. Industrial Alliance Securities set a $2.50 price objective on Ring Energy in a research report 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 Stock Performance

Shares of NYSEAMERICAN:REI traded down $0.01 during trading on Wednesday, reaching $0.85. 1,119,717 shares of the company's stock traded hands, compared to its average volume of 1,835,574. The stock has a market capitalization of $168.49 million, a P/E ratio of 1.49 and a beta of 1.55. The company has a 50 day moving average of $1.03 and a 200-day moving average of $1.35. Ring Energy, Inc. has a 12 month low of $0.78 and a 12 month high of $2.06. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.54 and a quick ratio of 0.49.

Insiders Place Their Bets

In related news, CEO Paul D. Mckinney purchased 200,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average price of $1.08 per share, for a total transaction of $216,000.00. Following the transaction, the chief executive officer now directly owns 2,966,054 shares of the company's stock, valued at $3,203,338.32. This trade represents a 7.23 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of the company's 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 completion of the sale, the insider now owns 28,945,643 shares of the company's stock, valued at approximately $35,603,140.89. This trade represents a 18.51 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

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.