Warburg Pincus & Co Us, Llc Sells 6,200,000 Shares of Ring Energy, Inc. (NYSEAMERICAN:REI) Stock

Ring Energy, Inc. (NYSEAMERICAN:REI) major shareholder Warburg Pincus & Co Us, Llc sold 6,200,000 shares of the business’s 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 transaction, the insider now directly owns 39,920,643 shares of the company’s stock, valued at approximately $65,469,854.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Ring Energy Trading Down 2.3 %

Shares of NYSEAMERICAN:REI opened at $1.67 on Friday. The company has a market cap of $330.94 million, a P/E ratio of 4.18 and a beta of 1.63. 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 12-month low of $1.25 and a 12-month high of $2.20.

Ring Energy (NYSEAMERICAN:REI) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. Ring Energy had a net margin of 18.41% and a return on equity of 10.94%. The business had revenue of $99.14 million during the quarter, compared to analyst estimates of $98.29 million. As a group, research analysts expect that Ring Energy, Inc. will post 0.43 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Ring Energy by 26.5% in the first quarter. Vanguard Group Inc. now owns 5,068,526 shares of the company’s stock worth $9,934,000 after buying an additional 1,062,654 shares during the last quarter. Bleakley Financial Group LLC increased its stake in shares of Ring Energy by 49.0% during the first quarter. Bleakley Financial Group LLC now owns 112,788 shares of the company’s stock valued at $221,000 after buying an additional 37,075 shares during the period. Janus Henderson Group PLC purchased a new position in Ring Energy in the first quarter valued at about $47,000. CWM LLC grew its stake in Ring Energy by 448.3% in the second quarter. CWM LLC now owns 23,367 shares of the company’s stock valued at $39,000 after purchasing an additional 19,105 shares during the last quarter. Finally, Cetera Advisors LLC grew its stake in Ring Energy by 89.6% in the first quarter. Cetera Advisors LLC now owns 34,130 shares of the company’s stock valued at $67,000 after purchasing an additional 16,130 shares during the last quarter. 77.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Ring Energy from a “hold” rating to a “buy” rating in a research note 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.