Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 2,922,388 Ring Energy, Inc. $REI

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Ring Energy, Inc. (NYSEAMERICAN:REI) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 2,922,388 shares of the company’s stock, valued at approximately $3,156,000.

Several other institutional investors have also recently made changes to their positions in the company. DGS Capital Management LLC raised its position in shares of Ring Energy by 65.4% in the fourth quarter. DGS Capital Management LLC now owns 31,196 shares of the company’s stock worth $27,000 after buying an additional 12,331 shares in the last quarter. Van Den Berg Management I Inc. boosted its stake in Ring Energy by 39.9% during the third quarter. Van Den Berg Management I Inc. now owns 50,884 shares of the company’s stock valued at $55,000 after buying an additional 14,523 shares during the period. Barry Investment Advisors LLC grew its position in Ring Energy by 100.0% during the first quarter. Barry Investment Advisors LLC now owns 30,000 shares of the company’s stock worth $46,000 after buying an additional 15,000 shares in the last quarter. Callahan Advisors LLC grew its position in Ring Energy by 53.5% during the fourth quarter. Callahan Advisors LLC now owns 43,061 shares of the company’s stock worth $37,000 after buying an additional 15,000 shares in the last quarter. Finally, Jefferies Financial Group Inc. grew its position in Ring Energy by 90.0% during the fourth quarter. Jefferies Financial Group Inc. now owns 36,861 shares of the company’s stock worth $32,000 after buying an additional 17,461 shares in the last quarter. Institutional investors own 77.14% of the company’s stock.

Insiders Place Their Bets

In other Ring Energy news, EVP Sundip Singh Johl purchased 231,000 shares of the stock in a transaction on Monday, June 15th. The stock was acquired at an average cost of $1.21 per share, with a total value of $279,510.00. Following the completion of the purchase, the executive vice president directly owned 548,460 shares of the company’s stock, valued at approximately $663,636.60. This trade represents a 72.77% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Paul D. Mckinney purchased 50,000 shares of the stock in a transaction on Monday, June 15th. The stock was acquired at an average cost of $1.19 per share, with a total value of $59,500.00. Following the completion of the purchase, the chief executive officer directly owned 4,158,463 shares of the company’s stock, valued at $4,948,570.97. The trade was a 1.22% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.50% of the stock is owned by company insiders.

Ring Energy Stock Down 1.4%

Shares of NYSEAMERICAN REI opened at $1.45 on Friday. The stock has a market capitalization of $377.75 million, a P/E ratio of -1.32, a PEG ratio of 0.32 and a beta of 0.79. Ring Energy, Inc. has a one year low of $0.83 and a one year high of $2.00. The firm’s 50 day simple moving average is $1.25 and its two-hundred day simple moving average is $1.36. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.54 and a quick ratio of 0.49.

Ring Energy (NYSEAMERICAN:REI) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. Ring Energy had a negative net margin of 68.02% and a positive return on equity of 5.55%. The firm had revenue of $104.68 million during the quarter, compared to analyst estimates of $93.29 million. As a group, analysts expect that Ring Energy, Inc. will post 0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

REI has been the topic of several recent analyst reports. Bank of America initiated coverage on Ring Energy in a report on Wednesday, July 15th. They issued a “buy” rating and a $2.00 price target on the stock. Zacks Research downgraded Ring Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 26th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2.00.

Ring Energy Company Profile

Ring Energy, Inc is an independent oil and natural gas exploration and production company focused on the development, acquisition and operation of upstream assets in the United States. Headquartered in Odessa, Texas, the company concentrates its activities on onshore hydrocarbon plays, where it seeks to optimize production through technical innovation, cost management and disciplined capital allocation. Ring Energy trades on the NYSE American under the ticker symbol REI.

The company’s core operations are centered in the Permian Basin, one of North America’s most prolific oil-producing regions.