Ring Energy, Inc. (NYSEAMERICAN:REI) Major Shareholder Sells $7,128,000.00 in Stock

Ring Energy, Inc. (NYSEAMERICAN:REI) major shareholder Warburg Pincus & Co Us, Llc sold 4,400,000 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was 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 approximately $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 is available at this link. Major shareholders that own 10% or more 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 value of $10,168,000.00.

Ring Energy Stock Performance

Shares of NYSEAMERICAN:REI traded down $0.06 during trading on Wednesday, hitting $1.61. 2,528,257 shares of the company’s stock were exchanged, compared to its average volume of 1,771,960. The stock has a market capitalization of $319.05 million, a P/E ratio of 4.18 and a beta of 1.61. The company has a current ratio of 0.50, a quick ratio of 0.45 and a debt-to-equity ratio of 0.50. Ring Energy, Inc. has a 52-week low of $1.25 and a 52-week high of $2.20.

Ring Energy (NYSEAMERICAN:REI) last issued its earnings results on Tuesday, August 6th. The company reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. Ring Energy had a return on equity of 10.94% and a net margin of 18.41%. The business had revenue of $99.14 million during the quarter, compared to analyst estimates of $98.29 million. Equities research analysts forecast that Ring Energy, Inc. will post 0.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Ring Energy

Large investors have recently made changes to their positions in the stock. Delap Wealth Advisory LLC acquired a new position in Ring Energy during the 1st quarter worth approximately $27,000. Choreo LLC bought a new position in Ring Energy in the first quarter worth about $29,000. Caprock Group LLC acquired a new stake in shares of Ring Energy in the first quarter valued at approximately $30,000. CreativeOne Wealth LLC acquired a new stake in shares of Ring Energy in the first quarter valued at approximately $31,000. Finally, Walleye Trading LLC boosted its stake in Ring Energy by 255.9% in the 1st quarter. Walleye Trading LLC now owns 16,213 shares of the company’s stock worth $32,000 after purchasing an additional 26,613 shares during the period. 77.14% of the stock is currently owned by hedge funds and other institutional investors.

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.