Warburg Pincus (E&P) Xii Llc Sells 2,486,027 Shares of Ring Energy, Inc. (NYSEAMERICAN:REI) Stock

Ring Energy, Inc. (NYSEAMERICAN:REI - Get Free Report) major shareholder Warburg Pincus (E&P) Xii Llc sold 2,486,027 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $0.92, for a total transaction of $2,287,144.84. Following the sale, the insider now directly owns 20,509,300 shares in the company, valued at approximately $18,868,556. The trade was a 10.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 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 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 value 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 value of $19,954.50.
• On Wednesday, June 4th, Warburg Pincus (E&P) Xii Llc sold 321,289 shares of Ring Energy stock. The stock was sold at an average price of $0.76, for a total transaction 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 stock was 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 transaction of $24,936.80.

Ring Energy Trading Up 8.9%

Ring Energy stock traded up $0.07 during midday trading on Tuesday, reaching $0.89. The stock had a trading volume of 7,613,075 shares, compared to its average volume of 2,101,085. The company has a quick ratio of 0.44, a current ratio of 0.47 and a debt-to-equity ratio of 0.53. The firm has a market cap of $184.11 million, a price-to-earnings ratio of 3.03 and a beta of 0.75. Ring Energy, Inc. has a 52-week low of $0.72 and a 52-week high of $2.06. The company has a fifty day moving average of $0.84 and a 200 day moving average of $1.22.

Ring Energy Dividend Announcement

The firm 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 dividend of $0.0965 per share.

Hedge Funds Weigh In On Ring Energy

Hedge funds have recently bought and sold shares of the business. Mraz Amerine & Associates Inc. bought a new stake in shares of Ring Energy during the fourth quarter valued at approximately $27,000. Arkadios Wealth Advisors increased its holdings in Ring Energy by 97.7% during the 1st quarter. Arkadios Wealth Advisors now owns 23,429 shares of the company's stock worth $27,000 after purchasing an additional 11,579 shares during the period. CWM LLC raised its position in Ring Energy by 99.3% during the 1st quarter. CWM LLC now owns 27,773 shares of the company's stock valued at $32,000 after purchasing an additional 13,840 shares in the last quarter. Ullmann Wealth Partners Group LLC raised its position in Ring Energy by 95.2% during the 1st quarter. Ullmann Wealth Partners Group LLC now owns 28,698 shares of the company's stock valued at $33,000 after purchasing an additional 13,996 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Ring Energy by 204.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 26,187 shares of the company's stock worth $36,000 after buying an additional 17,574 shares during the period. Institutional investors own 77.14% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on REI. Industrial Alliance Securities set a $2.50 target price on Ring Energy in a research report on Friday, March 7th. Alliance Global Partners reiterated a "buy" rating on shares of Ring Energy in a research 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.