Jefferies Financial Group Inc. Invests $1.09 Million in Ring Energy, Inc. (NYSEAMERICAN:REI)

Key Points

• Jefferies Financial Group Inc. has acquired a new stake in Ring Energy, purchasing 950,000 shares valued at approximately $1.09 million.
• Internal shareholder Warburg Pincus sold over 2.4 million shares, reducing their position by 10.81% in the company.
• Analysts from Alliance Global Partners have set a "buy" rating for Ring Energy with a target price of $2.50, contradicting its current trading price of $0.74.

Jefferies Financial Group Inc. acquired a new stake in shares of Ring Energy, Inc. (NYSEAMERICAN:REI - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 950,000 shares of the company's stock, valued at approximately $1,092,000. Jefferies Financial Group Inc. owned about 0.48% of Ring Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its position in shares of Ring Energy by 1.0% during the 4th quarter. Ameriprise Financial Inc. now owns 5,332,208 shares of the company's stock valued at $7,252,000 after buying an additional 51,577 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Ring Energy by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 3,060,543 shares of the company's stock valued at $4,163,000 after purchasing an additional 89,614 shares in the last quarter. Millennium Management LLC boosted its position in shares of Ring Energy by 358.0% in the fourth quarter. Millennium Management LLC now owns 1,082,632 shares of the company's stock worth $1,472,000 after purchasing an additional 846,241 shares during the period. Marshall Wace LLP purchased a new stake in shares of Ring Energy in the fourth quarter worth $1,378,000. Finally, First Trust Advisors LP raised its position in shares of Ring Energy by 17.6% during the 4th quarter. First Trust Advisors LP now owns 974,232 shares of the company's stock valued at $1,325,000 after purchasing an additional 145,786 shares during the period. Institutional investors own 77.14% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners began coverage on Ring Energy in a report on Friday, July 11th. They set a "buy" rating and a $2.50 price target for the company.

Insiders Place Their Bets

In other news, major shareholder Warburg Pincus (E&P) Xii Llc sold 2,486,027 shares of Ring Energy stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $0.92, for a total value of $2,287,144.84. Following the sale, the insider owned 20,509,300 shares in the company, valued at $18,868,556. This trade represents a 10.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 8,436,343 shares of company stock valued at $7,183,625. Corporate insiders own 3.00% of the company's stock.

Ring Energy Stock Performance

NYSEAMERICAN REI traded up $0.02 on Friday, hitting $0.77. 3,643,714 shares of the company's stock traded hands, compared to its average volume of 2,758,885. The firm has a market capitalization of $159.64 million, a PE ratio of 2.24 and a beta of 0.80. Ring Energy, Inc. has a 1-year low of $0.72 and a 1-year high of $1.94. The firm's 50-day moving average price is $0.79 and its two-hundred day moving average price is $1.02. The company has a current ratio of 0.47, a quick ratio of 0.44 and a debt-to-equity ratio of 0.53.

Ring Energy Announces Dividend

The firm also recently declared a jun 25 dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 30th were issued a $0.0965 dividend.

Ring Energy 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.