Ring Energy, Inc. (NYSEAMERICAN:REI) Major Shareholder Warburg Pincus & Co Us, Llc Sells 6,200,000 Shares

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 on Wednesday, September 18th. The stock was sold at an average price of $1.64, for a total transaction of $10,168,000.00. Following the completion of the sale, the insider now directly owns 39,920,643 shares in the company, valued at approximately $65,469,854.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Ring Energy Stock Performance

NYSEAMERICAN:REI traded down $0.04 on Friday, reaching $1.67. 6,257,099 shares of the stock traded hands, compared to its average volume of 1,744,557. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.45 and a current ratio of 0.50. Ring Energy, Inc. has a 1-year low of $1.25 and a 1-year high of $2.20. The company 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 posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. Ring Energy had a net margin of 18.41% and a return on equity of 10.94%. The company had revenue of $99.14 million during the quarter, compared to analysts’ expectations of $98.29 million. Research analysts anticipate that Ring Energy, Inc. will post 0.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Several institutional investors and hedge funds have recently made changes to their positions in REI. IPG Investment Advisors LLC acquired a new position in shares of Ring Energy during the fourth quarter valued at about $235,000. RPO LLC acquired a new position in Ring Energy during the 4th quarter worth approximately $77,000. CastleKnight Management LP bought a new position in Ring Energy in the fourth quarter worth approximately $145,000. Quadrature Capital Ltd grew its stake in Ring Energy by 72.4% in the fourth quarter. Quadrature Capital Ltd now owns 224,295 shares of the company’s stock valued at $327,000 after acquiring an additional 94,189 shares during the period. Finally, DGS Capital Management LLC acquired a new stake in Ring Energy in the first quarter valued at approximately $86,000. Institutional investors own 77.14% of the company’s stock.

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.