Daruma Capital Management Llc Now Holds $42.69 million Worth Of Ring Energy, Inc. (REI)

Ring Energy, Inc. (NYSE:REI) went up to recover about 43.6% since recording its record low price of $9.22. The stock experienced -8.18% slump, arriving at $13.24 on 12/06/2017. During the day, the stock price traveled from $13.19 to $14.28. This company shares are 39.73% off its target price of $18.5 and the current market capitalization stands at $697.62M. The recent change has given its price a -1.07% deficit over SMA 50 and -12.49% deficit over its 52-week high. The stock witnessed -2.79% declines, 2.8% gains and 2.32% gains for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found REI’s volatility during a week at 5.14% and during a month it has been found around 4.33%.

Ring Energy, Inc. (REI) Top Holders

Institutional investors currently hold around $661 million or 87% in REI stock. Look at its top three institutional owners. Royal Bank Of Canada owns $58.06 million in Ring Energy, Inc., which represents roughly 8.32% of the company’s market cap and approximately 8.78% of the institutional ownership. Similar statistics are true for the second largest owner, Blackrock Inc., which owns 3,352,568 shares of the stock are valued at $48.34 million. The third largest holder is Daruma Capital Management Llc, which currently holds $42.69 million worth of this stock and that ownership represents nearly 6.12% of its market capitalization.

Ring Energy, Inc. 13F Filings

At the end of 09/30/2017 reporting period, 64 institutional holders increased their position in Ring Energy, Inc. (NYSE:REI) by some 9,208,512 shares, 30 decreased positions by 1,263,419 and 25 held positions by 35,344,297. That puts total institutional holdings at 45,816,228 shares, according to SEC filings. The stock grabbed 18 new institutional investments totaling 2,219,093 shares while 4 institutional investors sold out their entire positions totaling 1,780 shares.

Ring Energy, Inc. (NYSE:REI) Insider Trades

Multiple company employees have indulged in significant insider trading. Ring Energy, Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that CEO Hoffman Kelly W. has sold 51,238 shares of Ring Energy, Inc. (REI) in trading session dated Nov. 29, 2017. These shares are worth $706,572 and were traded at $13.79 each. The SEC filing shows that Wilson Daniel D performed a sale of 50,000 shares. The Executive Vice President disposed these shares by way of transaction on Nov. 27, 2017. The company’s shares were given away at $13.77 per share worth to an income of some $688,500 on account of Wilson Daniel D.

President, Fowler David A., sold 30,000 common shares of Ring Energy, Inc. (REI) in the open market. In a transaction dated May. 12, 2017, the shares were put up for sale at an average price of $13.44, raking in a sum of $403,200. After this sale, 145,200 common shares of REI are directly owned by the insider, with total stake valued at $1,922,448.

In the transaction dated Apr. 19, 2017, the great number of shares disposed came courtesy the CEO; Hoffman Kelly W. disposed a total of 60,000 shares at an average price of $12, amounting to approximately $720,000. The insider now directly owns 7,546 shares worth $99,909.

Ring Energy, Inc. (REI) Analyst Guide

Several analysts have released their opinion on Ring Energy, Inc. (NYSE:REI), with 8 analysts believing it is a strong buy. Whereas 0 of them predict the stock is a hold. Also, there are 0 buy, 0 sell and 0 strong sell ratings, collectively assigning a 1 average brokerage recommendation.

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