Nuveen LLC Invests $503,000 in Ring Energy, Inc. $REI

Nuveen LLC purchased a new position in shares of Ring Energy, Inc. (NYSEAMERICAN:REI) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 437,412 shares of the company’s stock, valued at approximately $503,000. Nuveen LLC owned approximately 0.22% of Ring Energy at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in REI. Wells Fargo & Company MN boosted its position in Ring Energy by 23.4% during the fourth quarter. Wells Fargo & Company MN now owns 99,982 shares of the company’s stock valued at $136,000 after purchasing an additional 18,944 shares in the last quarter. Barclays PLC boosted its position in Ring Energy by 14.8% during the fourth quarter. Barclays PLC now owns 222,884 shares of the company’s stock valued at $303,000 after purchasing an additional 28,698 shares in the last quarter. Mariner LLC bought a new stake in Ring Energy during the fourth quarter valued at about $52,000. MetLife Investment Management LLC boosted its position in Ring Energy by 29.2% during the fourth quarter. MetLife Investment Management LLC now owns 54,504 shares of the company’s stock valued at $74,000 after purchasing an additional 12,312 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Ring Energy by 204.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 26,187 shares of the company’s stock valued at $36,000 after purchasing an additional 17,574 shares in the last quarter. Institutional investors own 77.14% of the company’s stock.

Insiders Place Their Bets

In other Ring Energy news, major shareholder Warburg Pincus (E&P) Xii Llc sold 2,486,027 shares of the firm’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $0.92, for a total value of $2,287,144.84. Following the completion of the sale, the insider 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders bought 79,069 shares of company stock valued at $65,799 and sold 4,129,223 shares valued at $3,612,690. Corporate insiders own 3.00% of the company’s stock.

Ring Energy Price Performance

Shares of NYSEAMERICAN REI opened at $0.99 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.58 and a current ratio of 0.63. The company has a market cap of $205.47 million, a PE ratio of 2.84 and a beta of 1.03. The business has a 50-day simple moving average of $0.85 and a two-hundred day simple moving average of $0.95. Ring Energy, Inc. has a fifty-two week low of $0.72 and a fifty-two week high of $1.81.

Ring Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on REI shares. Zacks Research raised Ring Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, August 29th. Alliance Global Partners started coverage on Ring Energy in a research report on Friday, July 11th. They set a “buy” rating and a $2.50 price objective on the stock. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $2.50.

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.