Warburg Pincus (E&P) Xii Llc Sells 6,575,000 Shares of Ring Energy, Inc. (NYSEAMERICAN:REI) 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 on Monday, February 24th. The shares were sold at an average price of $1.23, for a total transaction of $8,087,250.00. Following the completion of the transaction, the insider now directly owns 28,945,643 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Ring Energy Stock Up 0.8 %

Shares of REI stock opened at $1.29 on Friday. Ring Energy, Inc. has a 12-month low of $1.21 and a 12-month high of $2.20. 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 stock has a market cap of $255.68 million, a price-to-earnings ratio of 2.26 and a beta of 1.55.

Wall Street Analyst Weigh In

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

Institutional Trading of Ring Energy

Hedge funds have recently bought and sold shares of the company. CreativeOne Wealth LLC purchased a new stake in Ring Energy during the 3rd quarter valued at about $26,000. Mraz Amerine & Associates Inc. purchased a new stake in shares of Ring Energy during the fourth quarter valued at approximately $27,000. Tower Research Capital LLC TRC grew its holdings in shares of Ring Energy by 204.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 26,187 shares of the company’s stock worth $36,000 after purchasing an additional 17,574 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Ring Energy in the third quarter worth $39,000. Finally, R Squared Ltd bought a new stake in Ring Energy during the 4th quarter valued at $41,000. Institutional investors own 77.14% of the company’s stock.

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.