Insider Selling: Ring Energy, Inc. (NYSEAMERICAN:REI) Major Shareholder 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 company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $1.23, for a total transaction of $8,087,250.00. Following the completion of the sale, the insider now directly owns 28,945,643 shares in the company, valued at $35,603,140.89. This represents a 18.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Ring Energy Stock Performance

Ring Energy stock opened at $1.29 on Friday. Ring Energy, Inc. has a twelve month low of $1.21 and a twelve month high of $2.20. The company has a current ratio of 0.54, a quick ratio of 0.49 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $255.68 million, a P/E ratio of 2.26 and a beta of 1.55.

Institutional Trading of Ring Energy

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

Analysts Set New Price Targets

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

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.