Segall Bryant & Hamill LLC Purchases New Stake in Ring Energy, Inc. (NYSEAMERICAN:REI)

Segall Bryant & Hamill LLC acquired a new position in shares of Ring Energy, Inc. (NYSEAMERICAN:REI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 857,928 shares of the company’s stock, valued at approximately $1,167,000. Segall Bryant & Hamill LLC owned 0.43% of Ring Energy at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. CreativeOne Wealth LLC acquired a new stake in shares of Ring Energy during the 3rd quarter valued at about $26,000. Mraz Amerine & Associates Inc. acquired a new stake in Ring Energy in the fourth quarter valued at approximately $27,000. Virtu Financial LLC bought a new stake in Ring Energy in the third quarter worth approximately $39,000. R Squared Ltd acquired a new position in shares of Ring Energy during the 4th quarter worth $41,000. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Ring Energy by 103.9% during the 4th 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. 77.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Ring Energy news, CEO Paul D. Mckinney acquired 200,000 shares of Ring Energy stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of $1.08 per share, with a total value of $216,000.00. Following the completion of the transaction, the chief executive officer now owns 2,966,054 shares of the company’s stock, valued at $3,203,338.32. The trade was a 7.23 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $1.23, for a total transaction of $8,087,250.00. Following the transaction, the insider now directly owns 28,945,643 shares in the company, valued at $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 currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Industrial Alliance Securities set a $2.50 price objective on shares of Ring Energy in a research note on Friday, March 7th. Alliance Global Partners reaffirmed a “buy” rating on shares of Ring Energy in a research report on Friday, March 7th.

Ring Energy Stock Down 3.3 %

Shares of Ring Energy stock opened at $1.16 on Friday. Ring Energy, Inc. has a 12-month low of $1.05 and a 12-month high of $2.20. The company has a market capitalization of $229.91 million, a PE ratio of 2.04 and a beta of 1.55. 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 stock’s 50 day moving average is $1.31.

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.