Financial Advocates Investment Management Has $107,000 Position in Ring Energy, Inc. (NYSEAMERICAN:REI)

Financial Advocates Investment Management lowered its holdings in shares of Ring Energy, Inc. (NYSEAMERICAN:REI) by 27.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,850 shares of the company’s stock after selling 30,450 shares during the quarter. Financial Advocates Investment Management’s holdings in Ring Energy were worth $107,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of REI. CreativeOne Wealth LLC bought a new position in shares of Ring Energy during the 3rd quarter valued at $26,000. Ullmann Wealth Partners Group LLC raised its holdings in shares of Ring Energy by 58.8% during the 3rd quarter. Ullmann Wealth Partners Group LLC now owns 20,469 shares of the company’s stock valued at $33,000 after purchasing an additional 7,583 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Ring Energy during the 3rd quarter valued at $39,000. R Squared Ltd bought a new position in Ring Energy in the 4th quarter worth $41,000. Finally, Catalina Capital Group LLC raised its holdings in Ring Energy by 38.7% in the 3rd quarter. Catalina Capital Group LLC now owns 36,530 shares of the company’s stock worth $58,000 after acquiring an additional 10,201 shares during the period. Institutional investors own 77.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Ring Energy from a “buy” rating to a “hold” rating in a report on Thursday, November 14th.

Ring Energy Trading Up 3.9 %

Shares of Ring Energy stock opened at $1.32 on Tuesday. 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, Inc. has a twelve month low of $1.21 and a twelve month high of $2.20. The stock has a market cap of $261.62 million, a PE ratio of 2.32 and a beta of 1.55.

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.