Ring Energy, Inc. (NYSEAMERICAN:REI) Major Shareholder Warburg Pincus (E&P) Xii Llc Sells 6,575,000 Shares of Stock

Ring Energy, Inc. (NYSEAMERICAN:REI) major shareholder Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $1.23, for a total value of $8,087,250.00. Following the sale, the insider now owns 28,945,643 shares in the company, valued at approximately $35,603,140.89. The trade was a 18.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Ring Energy Price Performance

REI stock opened at $1.28 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.54 and a quick ratio of 0.49. The company has a market cap of $253.70 million, a PE ratio of 2.25 and a beta of 1.55. Ring Energy, Inc. has a twelve month low of $1.21 and a twelve month high of $2.20.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Ring Energy from a “buy” rating to a “hold” rating in a report on Thursday, November 14th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. CreativeOne Wealth LLC acquired a new stake in shares of Ring Energy in the 3rd quarter valued at about $26,000. Mraz Amerine & Associates Inc. bought a new stake in Ring Energy in the fourth quarter valued at about $27,000. Tower Research Capital LLC TRC raised its stake 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 buying an additional 17,574 shares in the last quarter. Virtu Financial LLC acquired a new stake in Ring Energy during the third quarter valued at approximately $39,000. Finally, R Squared Ltd bought a new position in Ring Energy during the 4th quarter worth approximately $41,000. 77.14% of the stock is owned by institutional investors and hedge funds.

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.