Insider Selling: Ring Energy, Inc. (NYSEAMERICAN:REI) Major Shareholder Sells 228,008 Shares of Stock

Ring Energy, Inc. (NYSEAMERICAN:REI - Get Free Report) major shareholder Warburg Pincus (E&P) Xii Llc sold 228,008 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $0.82, for a total transaction of $186,966.56. Following the completion of the transaction, the insider now directly owns 22,995,327 shares in the company, valued at $18,856,168.14. This trade represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

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

• On Wednesday, June 11th, Warburg Pincus (E&P) Xii Llc sold 652,380 shares of Ring Energy stock. The stock was sold at an average price of $0.81, for a total transaction of $528,427.80.
• On Tuesday, June 10th, Warburg Pincus (E&P) Xii Llc sold 505,340 shares of Ring Energy stock. The stock was sold at an average price of $0.81, for a total transaction of $409,325.40.
• On Monday, June 9th, Warburg Pincus (E&P) Xii Llc sold 257,468 shares of Ring Energy stock. The stock was sold at an average price of $0.78, for a total transaction of $200,825.04.
• On Friday, June 6th, Warburg Pincus (E&P) Xii Llc sold 215,476 shares of Ring Energy stock. The stock was sold at an average price of $0.77, for a total transaction of $165,916.52.
• On Thursday, June 5th, Warburg Pincus (E&P) Xii Llc sold 26,606 shares of Ring Energy stock. The shares were sold at an average price of $0.75, for a total transaction of $19,954.50.
• On Wednesday, June 4th, Warburg Pincus (E&P) Xii Llc sold 321,289 shares of Ring Energy stock. The shares were sold at an average price of $0.76, for a total value of $244,179.64.
• On Tuesday, June 3rd, Warburg Pincus (E&P) Xii Llc sold 521,232 shares of Ring Energy stock. The shares were sold at an average price of $0.79, for a total value of $411,773.28.
• On Monday, June 2nd, Warburg Pincus (E&P) Xii Llc sold 495,278 shares of Ring Energy stock. The shares were sold at an average price of $0.76, for a total value of $376,411.28.
• On Wednesday, May 28th, Warburg Pincus (E&P) Xii Llc sold 31,171 shares of Ring Energy stock. The shares were sold at an average price of $0.80, for a total value of $24,936.80.
• On Tuesday, May 27th, Warburg Pincus (E&P) Xii Llc sold 55,700 shares of Ring Energy stock. The shares were sold at an average price of $0.80, for a total value of $44,560.00.

Ring Energy Stock Up 2.9%

REI traded up $0.02 on Friday, hitting $0.87. 22,458,097 shares of the company were exchanged, compared to its average volume of 2,055,887. Ring Energy, Inc. has a twelve month low of $0.72 and a twelve month high of $2.06. The company has a market cap of $171.80 million, a price-to-earnings ratio of 1.52 and a beta of 1.55. 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 firm has a 50-day moving average price of $0.84 and a two-hundred day moving average price of $1.23.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP purchased a new stake in Ring Energy during the 4th quarter worth about $1,378,000. Jefferies Financial Group Inc. purchased a new stake in shares of Ring Energy in the 1st quarter valued at about $1,092,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Ring Energy in the 4th quarter valued at about $1,167,000. Millennium Management LLC lifted its holdings in shares of Ring Energy by 358.0% in the 4th quarter. Millennium Management LLC now owns 1,082,632 shares of the company's stock valued at $1,472,000 after purchasing an additional 846,241 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 744,284 shares during the last quarter. 77.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on REI shares. Alliance Global Partners reaffirmed a "buy" rating on shares of Ring Energy in a research note on Friday, March 7th. Industrial Alliance Securities set a $2.50 price objective on Ring Energy in a research note on Friday, March 7th.

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.