Bridgeway Capital Management LLC Sells 21,250 Shares of Ring Energy, Inc. (NYSEAMERICAN:REI)

Bridgeway Capital Management LLC lessened its holdings in shares of Ring Energy, Inc. (NYSEAMERICAN:REI) by 1.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,658,154 shares of the company’s stock after selling 21,250 shares during the period. Bridgeway Capital Management LLC’s holdings in Ring Energy were worth $2,255,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Mraz Amerine & Associates Inc. acquired a new position in shares of Ring Energy during the 4th quarter valued at about $27,000. Tower Research Capital LLC TRC grew its holdings in Ring Energy by 204.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 26,187 shares of the company’s stock valued at $36,000 after purchasing an additional 17,574 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Ring Energy in the third quarter valued at approximately $39,000. R Squared Ltd acquired a new stake in shares of Ring Energy in the fourth quarter worth $41,000. Finally, Sequoia Financial Advisors LLC boosted its holdings 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 buying an additional 16,558 shares during the period. 77.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in 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 target price on Ring Energy in a research note on Friday, March 7th.

Insider Activity

In related news, CEO Paul D. Mckinney purchased 200,000 shares of the stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $1.08 per share, for a total transaction of $216,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,966,054 shares of the company’s stock, valued at approximately $3,203,338.32. The trade was a 7.23 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $8,087,250.00. Following the transaction, the insider now directly owns 28,945,643 shares of the company’s stock, valued at approximately $35,603,140.89. The trade was a 18.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Ring Energy Stock Performance

REI opened at $0.85 on Friday. The stock has a market cap of $167.97 million, a PE ratio of 1.49 and a beta of 1.55. Ring Energy, Inc. has a 1 year low of $0.78 and a 1 year high of $2.06. The stock’s 50 day simple moving average is $1.01 and its 200-day simple moving average is $1.34. The company has a current ratio of 0.54, a quick ratio of 0.49 and a debt-to-equity ratio of 0.46.

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.