Ring Energy, Inc. (NYSEAMERICAN:REI) Major Shareholder Warburg Pincus & Co Us, Llc Sells 4,400,000 Shares of Stock

Ring Energy, Inc. (NYSEAMERICAN:REI) major shareholder Warburg Pincus & Co Us, Llc sold 4,400,000 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $1.62, for a total value of $7,128,000.00. Following the completion of the transaction, the insider now owns 35,520,643 shares in the company, valued at $57,543,441.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Warburg Pincus & Co Us, Llc also recently made the following trade(s):

• On Wednesday, September 18th, Warburg Pincus & Co Us, Llc sold 6,200,000 shares of Ring Energy stock. The stock was sold at an average price of $1.64, for a total transaction of $10,168,000.00.

Ring Energy Stock Performance

Shares of NYSEAMERICAN:REI opened at $1.61 on Thursday. Ring Energy, Inc. has a 52-week low of $1.25 and a 52-week high of $2.20. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.50 and a quick ratio of 0.45. The firm has a market capitalization of $319.05 million, a price-to-earnings ratio of 4.14 and a beta of 1.61.

Ring Energy (NYSEAMERICAN:REI) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. The firm had revenue of $99.14 million during the quarter, compared to analysts’ expectations of $98.29 million. Ring Energy had a net margin of 18.41% and a return on equity of 10.94%. On average, analysts expect that Ring Energy, Inc. will post 0.4 EPS for the current fiscal year.

Institutional Trading of Ring Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in REI. Delap Wealth Advisory LLC purchased a new stake in Ring Energy in the 1st quarter valued at about $27,000. Choreo LLC purchased a new stake in shares of Ring Energy in the 1st quarter valued at approximately $29,000. Caprock Group LLC purchased a new position in shares of Ring Energy during the 1st quarter worth approximately $30,000. CreativeOne Wealth LLC acquired a new stake in Ring Energy in the 1st quarter valued at approximately $31,000. Finally, Walleye Trading LLC raised its position 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 purchasing an additional 26,613 shares during the period. Institutional investors and hedge funds own 77.14% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of 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.