Stratos Wealth Advisors LLC reduced its stake in shares of Ring Energy, Inc. (NYSEAMERICAN:REI – Free Report) by 25.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,000 shares of the company’s stock after selling 10,000 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Ring Energy were worth $48,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Delap Wealth Advisory LLC acquired a new stake in Ring Energy in the first quarter valued at approximately $27,000. Choreo LLC purchased a new position in Ring Energy during the 1st quarter worth $29,000. Caprock Group LLC acquired a new position in Ring Energy during the 1st quarter valued at about $30,000. CreativeOne Wealth LLC purchased a new stake in Ring Energy in the first quarter valued at about $31,000. Finally, Walleye Trading LLC boosted its holdings in Ring Energy by 255.9% in the first quarter. Walleye Trading LLC now owns 16,213 shares of the company’s stock worth $32,000 after acquiring an additional 26,613 shares in the last quarter. 77.14% of the stock is currently owned by hedge funds and other institutional investors.
Ring Energy Trading Down 2.0 %
NYSEAMERICAN REI opened at $1.49 on Thursday. The stock has a market cap of $295.27 million, a price-to-earnings ratio of 4.13 and a beta of 1.61. The company has a quick ratio of 0.45, a current ratio of 0.50 and a debt-to-equity ratio of 0.50. Ring Energy, Inc. has a fifty-two week low of $1.25 and a fifty-two week high of $2.20.
Insider Buying and Selling
In other news, major shareholder Warburg Pincus & Co Us, Llc sold 4,400,000 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $1.62, for a total transaction of $7,128,000.00. Following the transaction, the insider now owns 35,520,643 shares in the company, valued at $57,543,441.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.60% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Separately, StockNews.com raised shares of Ring Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 15th.
Check Out Our Latest Stock Report on REI
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.
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