Financial Advocates Investment Management Sells 30,450 Shares of Ring Energy, Inc. (NYSEAMERICAN:REI)

Financial Advocates Investment Management cut its stake in Ring Energy, Inc. (NYSEAMERICAN:REI) by 27.9% in the fourth quarter, HoldingsChannel reports. The fund owned 78,850 shares of the company’s stock after selling 30,450 shares during the period. Financial Advocates Investment Management’s holdings in Ring Energy were worth $107,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of REI. Marshall Wace LLP bought a new position in shares of Ring Energy in the second quarter worth about $60,000. The Manufacturers Life Insurance Company raised its stake in shares of Ring Energy by 15.7% in the second quarter. The Manufacturers Life Insurance Company now owns 60,334 shares of the company’s stock worth $102,000 after acquiring an additional 8,165 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Ring Energy by 268.4% in the third quarter. SG Americas Securities LLC now owns 69,317 shares of the company’s stock worth $111,000 after acquiring an additional 50,502 shares during the last quarter. Creative Planning raised its stake in shares of Ring Energy by 77.1% during the third quarter. Creative Planning now owns 118,139 shares of the company’s stock worth $189,000 after buying an additional 51,429 shares during the last quarter. Finally, Ullmann Wealth Partners Group LLC raised its stake in shares of Ring Energy by 58.8% during the third quarter. Ullmann Wealth Partners Group LLC now owns 20,469 shares of the company’s stock worth $33,000 after buying an additional 7,583 shares during the last quarter. 77.14% of the stock is owned by institutional investors.

Ring Energy Price Performance

REI opened at $1.32 on Tuesday. 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 market cap of $261.62 million, a P/E ratio of 2.32 and a beta of 1.55. Ring Energy, Inc. has a fifty-two week low of $1.21 and a fifty-two week high of $2.20.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Ring Energy from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th.

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.