Ring Energy, Inc. (NYSEAMERICAN:REI) Major Shareholder Warburg Pincus & Co Us, Llc Sells 6,200,000 Shares of 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 that occurred on Wednesday, September 18th. The shares were 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 in the company, valued at approximately $65,469,854.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major 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 Down 2.3 %

Shares of NYSEAMERICAN:REI opened at $1.67 on Friday. Ring Energy, Inc. has a fifty-two week low of $1.25 and a fifty-two week high of $2.20. The company has a current ratio of 0.50, a quick ratio of 0.45 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $330.94 million, a PE ratio of 4.18 and a beta of 1.63.

Ring Energy (NYSEAMERICAN:REI) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.11 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 firm had revenue of $99.14 million during the quarter, compared to the consensus estimate of $98.29 million. Equities research analysts expect that Ring Energy, Inc. will post 0.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Ring Energy

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Ring Energy by 26.5% during 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 in the last quarter. Bleakley Financial Group LLC boosted its stake in shares of Ring Energy by 49.0% during the 1st quarter. Bleakley Financial Group LLC now owns 112,788 shares of the company’s stock worth $221,000 after acquiring an additional 37,075 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Ring Energy in the 1st quarter worth approximately $47,000. CWM LLC increased its stake in Ring Energy by 448.3% in the 2nd quarter. CWM LLC now owns 23,367 shares of the company’s stock valued at $39,000 after purchasing an additional 19,105 shares in the last quarter. Finally, Cetera Advisors LLC raised its holdings in Ring Energy by 89.6% during the first quarter. Cetera Advisors LLC now owns 34,130 shares of the company’s stock worth $67,000 after purchasing an additional 16,130 shares during the last quarter. 77.14% of the stock is owned by institutional investors and hedge funds.

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.