Insider Selling: Ring Energy, Inc. (NYSEAMERICAN:REI) Major Shareholder Sells 6,200,000 Shares of Stock

Ring Energy, Inc. (NYSEAMERICAN:REI) major shareholder Warburg Pincus & Co Us, Llc sold 6,200,000 shares of Ring Energy stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $1.64, for a total value of $10,168,000.00. Following the completion of the transaction, the insider now owns 39,920,643 shares in the company, valued at approximately $65,469,854.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Ring Energy Stock Down 2.3 %

Ring Energy stock opened at $1.67 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.50 and a quick ratio of 0.45. Ring Energy, Inc. has a 52 week low of $1.25 and a 52 week high of $2.20. The stock has a market cap of $330.94 million, a P/E ratio of 4.18 and a beta of 1.63.

Ring Energy (NYSEAMERICAN:REI) last released its earnings results on Tuesday, August 6th. The company reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. Ring Energy had a return on equity of 10.94% and a net margin of 18.41%. The firm had revenue of $99.14 million during the quarter, compared to the consensus estimate of $98.29 million. Research analysts anticipate that Ring Energy, Inc. will post 0.43 EPS for the current year.

Institutional Investors Weigh In On Ring Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC lifted its holdings in Ring Energy by 8.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 71,469 shares of the company’s stock valued at $121,000 after acquiring an additional 5,672 shares during the period. Caprock Group LLC lifted its holdings in Ring Energy by 44.0% in the second quarter. Caprock Group LLC now owns 21,776 shares of the company’s stock valued at $37,000 after acquiring an additional 6,655 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Ring Energy by 15.7% in the second quarter. The Manufacturers Life Insurance Company now owns 60,334 shares of the company’s stock valued at $102,000 after acquiring an additional 8,165 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Ring Energy by 7.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 132,995 shares of the company’s stock valued at $261,000 after acquiring an additional 8,792 shares during the period. Finally, Catalina Capital Group LLC lifted its holdings in Ring Energy by 54.9% in the second quarter. Catalina Capital Group LLC now owns 26,329 shares of the company’s stock valued at $44,000 after acquiring an additional 9,329 shares during the period. Institutional investors and hedge funds own 77.14% of the company’s stock.

Wall Street Analyst Weigh In

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

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.