Connor Clark & Lunn Investment Management Ltd. Makes New $3.16 Million Investment in Ring Energy, Inc. $REI

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Ring Energy, Inc. (NYSEAMERICAN:REI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,922,388 shares of the company’s stock, valued at approximately $3,156,000. Connor Clark & Lunn Investment Management Ltd. owned about 1.40% of Ring Energy at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Centiva Capital LP bought a new stake in shares of Ring Energy during the 3rd quarter worth $26,000. DGS Capital Management LLC grew its position in Ring Energy by 65.4% during the fourth quarter. DGS Capital Management LLC now owns 31,196 shares of the company’s stock valued at $27,000 after buying an additional 12,331 shares during the period. Jump Financial LLC bought a new position in Ring Energy during the second quarter valued at about $31,000. HRT Financial LP purchased a new stake in Ring Energy during the fourth quarter worth about $31,000. Finally, Jefferies Financial Group Inc. increased its holdings 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 during the last quarter. Institutional investors own 77.14% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Bank of America initiated coverage on shares of Ring Energy in a research note on Wednesday, July 15th. They issued a “buy” rating and a $2.00 target price on the stock. Zacks Research lowered shares of Ring Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2.00.

Insider Transactions at Ring Energy

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

Ring Energy Trading Down 1.4%

Shares of REI stock opened at $1.45 on Friday. The company’s fifty 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, Inc. has a 1 year low of $0.83 and a 1 year high of $2.00. The stock has a market capitalization of $377.75 million, a price-to-earnings ratio of -1.32, a PEG ratio of 0.32 and a beta of 0.79.

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

About Ring Energy

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.