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

Renaissance Technologies LLC cut its stake in 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. The firm owned 636,604 shares of the company's stock after selling 300,696 shares during the period. Renaissance Technologies LLC owned approximately 0.32% of Ring Energy worth $866,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in REI. Sequoia Financial Advisors LLC boosted its holdings in Ring Energy by 103.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 32,499 shares of the company's stock worth $44,000 after purchasing an additional 16,558 shares during the last quarter. Wells Fargo & Company MN lifted its position in Ring Energy by 23.4% during the 4th quarter. Wells Fargo & Company MN now owns 99,982 shares of the company's stock worth $136,000 after buying an additional 18,944 shares in the last quarter. Mraz Amerine & Associates Inc. acquired a new position in shares of Ring Energy during the 4th quarter worth about $27,000. Virtu Financial LLC bought a new position in shares of Ring Energy in the 3rd quarter valued at about $39,000. Finally, R Squared Ltd acquired a new stake in shares of Ring Energy in the fourth quarter valued at about $41,000. Institutional investors own 77.14% of the company's stock.

Ring Energy Price Performance

NYSEAMERICAN:REI traded down $0.05 during trading hours on Monday, hitting $0.87. The company's stock had a trading volume of 1,026,078 shares, compared to its average volume of 1,843,296. Ring Energy, Inc. has a twelve month low of $0.78 and a twelve 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. The stock has a fifty day simple moving average of $1.06 and a 200-day simple moving average of $1.36. The company has a market capitalization of $172.95 million, a P/E ratio of 1.53 and a beta of 1.55.

Insider Transactions at Ring Energy

In other news, major shareholder Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of Ring Energy stock in a transaction 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 owns 28,945,643 shares in the company, valued at approximately $35,603,140.89. The trade was a 18.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John A. Crum acquired 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was bought at an average price of $1.15 per share, with a total value of $57,500.00. Following the completion of the acquisition, the director now directly 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 disclosure for this purchase can be found here. Company insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

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