Ring Energy, Inc. (NYSEAMERICAN:REI) Major Shareholder Warburg Pincus (E&P) Xii Llc Sells 455,655 Shares of Stock

Ring Energy, Inc. (NYSEAMERICAN:REI) major shareholder Warburg Pincus (E&P) Xii Llc sold 455,655 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $0.89, for a total transaction of $405,532.95. Following the transaction, the insider now owns 27,555,507 shares in the company, valued at approximately $24,524,401.23. The trade was a 1.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Warburg Pincus (E&P) Xii Llc also recently made the following trade(s):

• On Tuesday, May 13th, Warburg Pincus (E&P) Xii Llc sold 634,481 shares of Ring Energy stock. The shares were sold at an average price of $0.91, for a total transaction of $577,377.71.
• On Monday, May 12th, Warburg Pincus (E&P) Xii Llc sold 300,000 shares of Ring Energy stock. The shares were sold at an average price of $0.90, for a total value of $270,000.00.
• On Monday, February 24th, Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of Ring Energy stock. The stock was sold at an average price of $1.23, for a total value of $8,087,250.00.

Ring Energy Stock Performance

NYSEAMERICAN REI opened at $0.84 on Friday. Ring Energy, Inc. has a twelve month low of $0.78 and a twelve month high of $2.06. The company has a quick ratio of 0.49, a current ratio of 0.54 and a debt-to-equity ratio of 0.46. The stock has a market cap of $165.79 million, a P/E ratio of 1.47 and a beta of 1.55. The company’s 50-day simple moving average is $0.98 and its 200 day simple moving average is $1.32.

Hedge Funds Weigh In On Ring Energy

A number of hedge funds have recently modified their holdings of REI. AQR Capital Management LLC boosted its stake in Ring Energy by 28.6% in the 1st quarter. AQR Capital Management LLC now owns 3,350,472 shares of the company’s stock valued at $3,853,000 after buying an additional 744,284 shares in the last quarter. Ieq Capital LLC acquired a new stake in shares of Ring Energy in the 1st quarter valued at $84,000. MetLife Investment Management LLC grew its holdings in shares of Ring Energy by 21.5% in the 1st quarter. MetLife Investment Management LLC now owns 66,197 shares of the company’s stock worth $76,000 after purchasing an additional 11,693 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Ring Energy during the 1st quarter worth about $503,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Ring Energy by 47.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 613,311 shares of the company’s stock worth $705,000 after purchasing an additional 198,418 shares in the last quarter. 77.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

REI has been the subject of a number of recent research reports. Alliance Global Partners restated a “buy” rating on shares of Ring Energy in a research note on Friday, March 7th. Industrial Alliance Securities set a $2.50 price target on shares of Ring Energy in a report on Friday, March 7th.

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.