Watchman Group Inc. Has $680,000 Stock Holdings in Ring Energy, Inc. (NYSEAMERICAN:REI)

Watchman Group Inc. boosted its holdings in shares of Ring Energy, Inc. (NYSEAMERICAN:REI) by 66.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 500,000 shares of the company’s stock after purchasing an additional 200,000 shares during the period. Watchman Group Inc.’s holdings in Ring Energy were worth $680,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Geode Capital Management LLC raised its stake in shares of Ring Energy by 34.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,970,929 shares of the company’s stock valued at $4,754,000 after acquiring an additional 763,907 shares in the last quarter. Barclays PLC grew its holdings in Ring Energy by 272.6% in the 3rd quarter. Barclays PLC now owns 194,186 shares of the company’s stock valued at $311,000 after buying an additional 142,074 shares during the last quarter. JPMorgan Chase & Co. increased its position in Ring Energy by 4,564.9% during the third quarter. JPMorgan Chase & Co. now owns 3,086,251 shares of the company’s stock worth $4,938,000 after acquiring an additional 3,020,092 shares during the period. Franklin Resources Inc. increased its holdings in shares of Ring Energy by 2,244.6% during the 3rd quarter. Franklin Resources Inc. now owns 235,168 shares of the company’s stock worth $381,000 after purchasing an additional 225,138 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Ring Energy by 196.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 414,893 shares of the company’s stock valued at $564,000 after acquiring an additional 274,933 shares in the last quarter. Institutional investors own 77.14% of the company’s stock.

Ring Energy Trading Down 3.3 %

REI opened at $1.16 on Friday. Ring Energy, Inc. has a 1-year low of $1.05 and a 1-year high of $2.20. The firm has a market cap of $229.91 million, a PE ratio of 2.04 and a beta of 1.55. The company has a quick ratio of 0.49, a current ratio of 0.54 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average of $1.31.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on REI. Alliance Global Partners restated a “buy” rating on shares of Ring Energy in a research note on Friday, March 7th. Industrial Alliance Securities set a $2.50 target price on Ring Energy in a report on Friday, March 7th.

Insider Buying and Selling

In other news, CEO Paul D. Mckinney acquired 200,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average price of $1.08 per share, for a total transaction of $216,000.00. Following the transaction, the chief executive officer now directly owns 2,966,054 shares in the company, valued at approximately $3,203,338.32. This represents a 7.23 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $1.23, for a total value of $8,087,250.00. Following the sale, the insider now directly owns 28,945,643 shares in the company, valued at approximately $35,603,140.89. This represents a 18.51 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Ring Energy Company 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.