Insider Selling: Ring Energy, Inc. (NYSEAMERICAN:REI) Major Shareholder Sells $10,168,000.00 in Stock

Ring Energy, Inc. (NYSEAMERICAN:REI) major shareholder Warburg Pincus & Co Us, Llc sold 6,200,000 shares of Ring Energy stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $1.64, for a total value of $10,168,000.00. Following the completion of the sale, the insider now owns 39,920,643 shares in the company, valued at $65,469,854.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Ring Energy Stock Performance

Shares of Ring Energy stock opened at $1.67 on Monday. The company has a market cap of $330.94 million, a PE ratio of 4.18 and a beta of 1.63. Ring Energy, Inc. has a 1-year low of $1.25 and a 1-year high of $2.20. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.45 and a current ratio of 0.50.

Ring Energy (NYSEAMERICAN:REI) last issued its earnings results on Tuesday, August 6th. The company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. The business had revenue of $99.14 million for the quarter, compared to analysts’ expectations of $98.29 million. Ring Energy had a return on equity of 10.94% and a net margin of 18.41%. On average, equities analysts expect that Ring Energy, Inc. will post 0.43 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Delap Wealth Advisory LLC acquired a new position in Ring Energy in the first quarter valued at approximately $27,000. Choreo LLC acquired a new position in Ring Energy in the first quarter valued at approximately $29,000. Caprock Group LLC acquired a new position in Ring Energy in the first quarter valued at approximately $30,000. CreativeOne Wealth LLC acquired a new position in Ring Energy in the first quarter valued at approximately $31,000. Finally, Walleye Trading LLC lifted 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 valued at $32,000 after acquiring an additional 26,613 shares during the last quarter. 77.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Ring Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 15th.

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.