Founders Capital Management Invests $35,000 in Ring Energy, Inc. $REI

Founders Capital Management purchased a new position in Ring Energy, Inc. (NYSEAMERICAN:REI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 44,200 shares of the company’s stock, valued at approximately $35,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arkadios Wealth Advisors lifted its position in shares of Ring Energy by 97.7% in the 1st quarter. Arkadios Wealth Advisors now owns 23,429 shares of the company’s stock worth $27,000 after purchasing an additional 11,579 shares during the period. CWM LLC lifted its position in shares of Ring Energy by 99.3% during the 1st quarter. CWM LLC now owns 27,773 shares of the company’s stock valued at $32,000 after acquiring an additional 13,840 shares during the period. Ullmann Wealth Partners Group LLC lifted its position in shares of Ring Energy by 95.2% during the 1st quarter. Ullmann Wealth Partners Group LLC now owns 28,698 shares of the company’s stock valued at $33,000 after acquiring an additional 13,996 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Ring Energy during the 1st quarter valued at $42,000. Finally, ProShare Advisors LLC lifted its position in shares of Ring Energy by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 41,736 shares of the company’s stock valued at $57,000 after acquiring an additional 13,733 shares during the period. Institutional investors and hedge funds own 77.14% of the company’s stock.

Ring Energy Stock Performance

REI opened at $1.09 on Wednesday. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 0.50. The company’s fifty day moving average price is $0.95 and its two-hundred day moving average price is $0.90. Ring Energy, Inc. has a 1-year low of $0.72 and a 1-year high of $1.81. The company has a market cap of $225.13 million, a price-to-earnings ratio of 3.11 and a beta of 1.03.

Analysts Set New Price Targets

A number of research firms recently issued reports on REI. Zacks Research upgraded shares of Ring Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, August 29th. Alliance Global Partners began coverage on shares of Ring Energy in a research report on Friday, July 11th. They set a “buy” rating and a $2.50 target price on the stock. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Ring Energy presently has a consensus rating of “Moderate Buy” and an average price target of $2.50.

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.