Watchman Group Inc. Increases Stake in Ring Energy, Inc. (NYSEAMERICAN:REI)

Watchman Group Inc. grew its position in Ring Energy, Inc. (NYSEAMERICAN:REI) by 66.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 500,000 shares of the company’s stock after acquiring an additional 200,000 shares during the period. Watchman Group Inc. owned about 0.25% of Ring Energy worth $680,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Ring Energy by 34.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,970,929 shares of the company’s stock valued at $4,754,000 after purchasing an additional 763,907 shares in the last quarter. Barclays PLC boosted its holdings in shares of Ring Energy by 272.6% during the third quarter. Barclays PLC now owns 194,186 shares of the company’s stock worth $311,000 after purchasing an additional 142,074 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in 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. Franklin Resources Inc. boosted its position in shares of Ring Energy by 2,244.6% in the third quarter. Franklin Resources Inc. now owns 235,168 shares of the company’s stock worth $381,000 after acquiring an additional 225,138 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Ring Energy by 196.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 414,893 shares of the company’s stock valued at $564,000 after buying an additional 274,933 shares during the period. 77.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Ring Energy news, major shareholder Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of Ring Energy stock in a transaction that occurred on Monday, February 24th. The shares were 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 approximately $35,603,140.89. The trade was a 18.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Paul D. Mckinney bought 200,000 shares of Ring Energy stock in a transaction dated Monday, March 10th. The shares were bought at an average cost of $1.08 per share, with a total value of $216,000.00. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. Corporate insiders own 2.60% of the company’s stock.

Ring Energy Stock Performance

REI stock opened at $1.16 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.54 and a quick ratio of 0.49. Ring Energy, Inc. has a 1 year low of $1.05 and a 1 year high of $2.20. The company has a fifty day moving average of $1.31. The company has a market capitalization of $229.91 million, a PE ratio of 2.04 and a beta of 1.55.

Analyst Upgrades and Downgrades

REI has been the topic of several recent research reports. Alliance Global Partners reaffirmed 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 shares of Ring Energy in a research report on Friday, March 7th.

About Ring Energy

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.