Walleye Capital LLC Takes Position in Ring Energy, Inc. (NYSEAMERICAN:REI)

Walleye Capital LLC acquired a new stake in shares of Ring Energy, Inc. (NYSEAMERICAN:REIGet Rating) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 286,532 shares of the company’s stock, valued at approximately $1,095,000.

Other hedge funds have also recently modified their holdings of the company. UBS Group AG boosted its position in Ring Energy by 252.1% in the first quarter. UBS Group AG now owns 9,292 shares of the company’s stock valued at $36,000 after buying an additional 6,653 shares during the last quarter. Barry Investment Advisors LLC purchased a new stake in Ring Energy in the 1st quarter worth approximately $38,000. FNY Investment Advisers LLC purchased a new position in shares of Ring Energy during the 1st quarter valued at approximately $54,000. Wilbanks Smith & Thomas Asset Management LLC purchased a new position in shares of Ring Energy during the 1st quarter valued at approximately $85,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Ring Energy during the 4th quarter valued at approximately $42,000. Institutional investors and hedge funds own 29.20% of the company’s stock.

Insider Activity at Ring Energy

In other news, major shareholder William R. Kruse acquired 507,214 shares of Ring Energy stock in a transaction that occurred on Monday, August 1st. The stock was purchased at an average cost of $2.67 per share, with a total value of $1,354,261.38. Following the purchase, the insider now owns 13,446,948 shares in the company, valued at $35,903,351.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by corporate insiders.

Ring Energy Trading Down 1.4 %

Shares of NYSEAMERICAN:REI opened at $2.83 on Monday. Ring Energy, Inc. has a 1 year low of $2.02 and a 1 year high of $5.09. The company has a market cap of $369.54 million, a PE ratio of -94.30 and a beta of 2.13. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.39 and a current ratio of 0.39.

Analyst Upgrades and Downgrades

Separately, Roth Capital lowered Ring Energy from a “buy” rating to a “neutral” rating in a research report on Monday, August 1st.

About Ring Energy

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Ring Energy, Inc, an exploration and production company, engages in the acquisition, exploration, development, and production of oil and natural gas in Texas and New Mexico. As of December 31, 2021, the company's proved reserves consisted of approximately 77.8 million barrel of oil equivalent. It also had interests in 18,882 net developed acres and 1,406 net undeveloped acres in Andrews and Gaines counties, Texas; 18,437 net developed acres in Culberson and Reeves counties, Texas; and 13,662 net developed acres and 11,993 net undeveloped acres in Yoakum, Runnels, and Coke Counties, Texas and Lea County, New Mexico.

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Institutional Ownership by Quarter for Ring Energy (NYSEAMERICAN:REI)

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