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 stock in a transaction on Monday, February 24th. The stock was sold at an average price of $1.23, for a total value of $8,087,250.00. Following the completion of the sale, the insider now directly owns 28,945,643 shares in the company, valued at $35,603,140.89. This represents a 18.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Ring Energy Price Performance

NYSEAMERICAN:REI opened at $1.28 on Friday. Ring Energy, Inc. has a 1 year low of $1.21 and a 1 year high of $2.20. The firm has a market capitalization of $253.70 million, a PE ratio of 2.25 and a beta of 1.55. The company has a quick ratio of 0.49, a current ratio of 0.54 and a debt-to-equity ratio of 0.46.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of REI. Creative Planning grew its stake in shares of Ring Energy by 77.1% in the third quarter. Creative Planning now owns 118,139 shares of the company’s stock worth $189,000 after purchasing an additional 51,429 shares in the last quarter. Catalina Capital Group LLC grew its stake in shares of Ring Energy by 38.7% in the third quarter. Catalina Capital Group LLC now owns 36,530 shares of the company’s stock worth $58,000 after purchasing an additional 10,201 shares in the last quarter. Atria Investments Inc bought a new position in shares of Ring Energy in the third quarter worth $230,000. Victory Capital Management Inc. grew its stake in shares of Ring Energy by 22.4% in the third quarter. Victory Capital Management Inc. now owns 119,079 shares of the company’s stock worth $191,000 after purchasing an additional 21,801 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in shares of Ring Energy by 18.9% in the third quarter. Empowered Funds LLC now owns 686,254 shares of the company’s stock worth $1,098,000 after purchasing an additional 109,074 shares in the last quarter. Institutional investors own 77.14% of the company’s stock.

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.

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.