Ring Energy, Inc. (NYSEAMERICAN:REI) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its position in shares of Ring Energy, Inc. (NYSEAMERICAN:REI) by 47.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 175,922 shares of the company’s stock after acquiring an additional 56,843 shares during the quarter. Victory Capital Management Inc.’s holdings in Ring Energy were worth $239,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in REI. CreativeOne Wealth LLC purchased a new position in shares of Ring Energy during the 3rd quarter valued at about $26,000. Mraz Amerine & Associates Inc. purchased a new position in shares of Ring Energy in the 4th quarter valued at about $27,000. Virtu Financial LLC purchased a new position in shares of Ring Energy in the 3rd quarter valued at about $39,000. R Squared Ltd purchased a new position in shares of Ring Energy in the 4th quarter valued at about $41,000. Finally, Capital Advisors Inc. OK purchased a new position in shares of Ring Energy in the 4th quarter valued at about $68,000. Institutional investors and hedge funds own 77.14% of the company’s stock.

Insider Transactions at Ring Energy

In other news, CEO Paul D. Mckinney purchased 200,000 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were bought at an average cost of $1.08 per share, for a total transaction of $216,000.00. Following the completion of the purchase, the chief executive officer now directly owns 2,966,054 shares of the company’s stock, valued at approximately $3,203,338.32. This trade represents a 7.23 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $1.23, for a total value of $8,087,250.00. Following the transaction, the insider now owns 28,945,643 shares in the company, valued at $35,603,140.89. This trade represents a 18.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Ring Energy Trading Down 4.0 %

NYSEAMERICAN:REI opened at $1.19 on Friday. Ring Energy, Inc. has a 12 month low of $1.05 and a 12 month high of $2.20. The business’s 50 day moving average price is $1.33. The company has a current ratio of 0.54, a quick ratio of 0.49 and a debt-to-equity ratio of 0.46. The stock has a market cap of $235.86 million, a price-to-earnings ratio of 2.09 and a beta of 1.55.

Analyst Ratings Changes

Several brokerages recently weighed in on REI. Industrial Alliance Securities set a $2.50 price target on Ring Energy in a research note on Friday, March 7th. Alliance Global Partners restated a “buy” rating on shares of Ring Energy in a research note 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.