Ring Energy, Inc. (NYSEAMERICAN:REI) Major Shareholder Sells $8,087,250.00 in 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 that occurred on Monday, February 24th. The shares were sold at an average price of $1.23, for a total value of $8,087,250.00. Following the completion of the transaction, the insider now directly owns 28,945,643 shares in the company, valued at approximately $35,603,140.89. The trade was a 18.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Ring Energy Price Performance

REI stock opened at $1.28 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. The company has a market cap of $253.70 million, a P/E ratio of 2.25 and a beta of 1.55. Ring Energy, Inc. has a 12-month low of $1.21 and a 12-month high of $2.20.

Institutional Investors Weigh In On Ring Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vident Advisory LLC raised its position in shares of Ring Energy by 51.2% during the 4th quarter. Vident Advisory LLC now owns 43,557 shares of the company’s stock valued at $59,000 after acquiring an additional 14,753 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Ring Energy by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 41,736 shares of the company’s stock valued at $57,000 after acquiring an additional 13,733 shares in the last quarter. Millennium Management LLC raised its position in shares of Ring Energy by 358.0% during the 4th quarter. Millennium Management LLC now owns 1,082,632 shares of the company’s stock valued at $1,472,000 after acquiring an additional 846,241 shares in the last quarter. Graham Capital Management L.P. increased its position in Ring Energy by 162.5% in the fourth quarter. Graham Capital Management L.P. now owns 256,122 shares of the company’s stock worth $348,000 after buying an additional 158,548 shares during the period. Finally, Deutsche Bank AG increased its position in Ring Energy by 55.6% in the fourth quarter. Deutsche Bank AG now owns 217,452 shares of the company’s stock worth $296,000 after buying an additional 77,658 shares during the period. 77.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com lowered Ring Energy from a “buy” rating to a “hold” rating in a research report 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.