Insider Selling: Ring Energy, Inc. (NYSEAMERICAN:REI) Major Shareholder Sells 2,486,027 Shares of Stock

Ring Energy, Inc. (NYSEAMERICAN:REI - Get Free Report) major shareholder Warburg Pincus (E&P) Xii Llc sold 2,486,027 shares of Ring Energy stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $0.92, for a total value of $2,287,144.84. Following the completion of the transaction, the insider now owns 20,509,300 shares of the company's stock, valued at approximately $18,868,556. The trade was a 10.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, June 12th, Warburg Pincus (E&P) Xii Llc sold 228,008 shares of Ring Energy stock. The shares were sold at an average price of $0.82, for a total transaction of $186,966.56.
• 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 shares were 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 shares were 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 shares were 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 stock was sold at an average price of $0.75, for a total value 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 stock was 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 transaction 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 transaction of $24,936.80.

Ring Energy Price Performance

Shares of NYSEAMERICAN:REI traded down $0.03 during trading hours on Thursday, hitting $0.86. 4,877,312 shares of the company's stock traded hands, compared to its average volume of 2,113,743. The company's fifty day simple moving average is $0.84 and its two-hundred day simple moving average is $1.21. The company has a market cap of $177.94 million, a price-to-earnings ratio of 2.39 and a beta of 0.75. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.44 and a current ratio of 0.47. Ring Energy, Inc. has a 52 week low of $0.72 and a 52 week high of $2.06.

Ring Energy Dividend Announcement

The business also recently declared a jun 25 dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 30th will be paid a $0.0965 dividend.

Institutional Trading of Ring Energy

A number of hedge funds have recently bought and sold shares of REI. Marshall Wace LLP acquired a new stake in shares of Ring Energy during the fourth quarter valued at approximately $1,378,000. BNP Paribas Financial Markets boosted its stake in Ring Energy by 15.6% in the 4th quarter. BNP Paribas Financial Markets now owns 168,590 shares of the company's stock worth $229,000 after purchasing an additional 22,790 shares during the period. Millennium Management LLC raised its stake in 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 purchasing an additional 846,241 shares during the period. Cetera Investment Advisers grew its holdings in shares of Ring Energy by 103.1% during the fourth quarter. Cetera Investment Advisers now owns 90,257 shares of the company's stock valued at $123,000 after buying an additional 45,822 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Ring Energy in the 4th quarter worth about $174,000. 77.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on REI shares. Industrial Alliance Securities set a $2.50 price target on Ring Energy in a research note on Friday, March 7th. Alliance Global Partners restated a "buy" rating on shares of Ring Energy in a report 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.