Jefferies Financial Group Inc. Takes $1.09 Million Position 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 Ring Energy, Inc. (NYSEAMERICAN:REI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 950,000 shares of the company's stock, valued at approximately $1,092,000. Jefferies Financial Group Inc. owned 0.48% of Ring Energy at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of REI. Ameriprise Financial Inc. boosted its holdings 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 worth $7,252,000 after purchasing an additional 51,577 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ring Energy by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 3,060,543 shares of the company's stock worth $4,163,000 after purchasing an additional 89,614 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Ring Energy by 358.0% during the 4th 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 last quarter. Marshall Wace LLP acquired a new position in shares of Ring Energy during the 4th quarter worth approximately $1,378,000. Finally, First Trust Advisors LP boosted its holdings 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 worth $1,325,000 after purchasing an additional 145,786 shares during the last quarter. 77.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Ring Energy news, major shareholder Warburg Pincus (E&P) Xii Llc sold 2,486,027 shares of the 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 completion of the transaction, the insider directly owned 20,509,300 shares of the company's stock, valued at approximately $18,868,556. This trade represents a 10.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 8,436,343 shares of company stock valued at $7,183,625 in the last three months. 3.00% of the stock is owned by company insiders.

Ring Energy Stock Performance

NYSEAMERICAN:REI traded down $0.01 during mid-day trading on Wednesday, reaching $0.74. The stock had a trading volume of 3,888,673 shares, compared to its average volume of 2,752,112. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.44 and a current ratio of 0.47. The firm has a market capitalization of $151.79 million, a price-to-earnings ratio of 2.04 and a beta of 0.80. Ring Energy, Inc. has a twelve month low of $0.72 and a twelve month high of $1.94. The business has a 50 day simple moving average of $0.79 and a 200 day simple moving average of $1.03.

Ring Energy Announces Dividend

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

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.