Ring Energy, Inc. (NYSEAMERICAN:REI) Major Shareholder Warburg Pincus (E&P) Xii Llc Sells 634,481 Shares

Ring Energy, Inc. (NYSEAMERICAN:REI) major shareholder Warburg Pincus (E&P) Xii Llc sold 634,481 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $0.91, for a total value of $577,377.71. Following the completion of the transaction, the insider now owns 28,011,162 shares in the company, valued at $25,490,157.42. The trade was a 2.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Warburg Pincus (E&P) Xii Llc also recently made the following trade(s):

• On Wednesday, May 14th, Warburg Pincus (E&P) Xii Llc sold 455,655 shares of Ring Energy stock. The shares were sold at an average price of $0.89, for a total value of $405,532.95.
• On Monday, May 12th, Warburg Pincus (E&P) Xii Llc sold 300,000 shares of Ring Energy stock. The stock was sold at an average price of $0.90, for a total value of $270,000.00.
• On Monday, February 24th, Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of Ring Energy stock. The shares were sold at an average price of $1.23, for a total transaction of $8,087,250.00.

Ring Energy Trading Down 5.3%

NYSEAMERICAN:REI opened at $0.84 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.49 and a debt-to-equity ratio of 0.46. Ring Energy, Inc. has a 1-year low of $0.78 and a 1-year high of $2.06. The firm has a market capitalization of $165.79 million, a price-to-earnings ratio of 1.47 and a beta of 1.55. The business’s 50-day moving average price is $0.98 and its two-hundred day moving average price is $1.32.

Analyst Ratings Changes

REI has been the subject of a number of recent research reports. Industrial Alliance Securities set a $2.50 price target on shares of Ring Energy in a research note on Friday, March 7th. Alliance Global Partners reiterated a “buy” rating on shares of Ring Energy in a research report on Friday, March 7th.

Institutional Trading of Ring Energy

A number of hedge funds have recently modified their holdings of the company. Ameriprise Financial Inc. grew its stake in Ring Energy by 1.0% in the fourth quarter. Ameriprise Financial Inc. now owns 5,332,208 shares of the company’s stock valued at $7,252,000 after acquiring an additional 51,577 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Ring Energy by 28.6% during the 1st quarter. AQR Capital Management LLC now owns 3,350,472 shares of the company’s stock valued at $3,853,000 after purchasing an additional 744,284 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Ring Energy by 4,564.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,086,251 shares of the company’s stock valued at $4,938,000 after purchasing an additional 3,020,092 shares during the period. Geode Capital Management LLC raised its holdings in Ring Energy by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 3,060,543 shares of the company’s stock worth $4,163,000 after buying an additional 89,614 shares during the period. Finally, Millennium Management LLC lifted its stake in Ring Energy by 358.0% in the fourth quarter. Millennium Management LLC now owns 1,082,632 shares of the company’s stock valued at $1,472,000 after buying an additional 846,241 shares in the last quarter. 77.14% of the stock is currently 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.