Insider Selling: Ring Energy, Inc. (NYSEAMERICAN:REI) Major Shareholder Sells 300,000 Shares of Stock

Ring Energy, Inc. (NYSEAMERICAN:REI - Get Free Report) major shareholder Warburg Pincus (E&P) Xii Llc sold 300,000 shares of Ring Energy stock in a transaction on Monday, May 12th. The stock was sold at an average price of $0.90, for a total value of $270,000.00. Following the transaction, the insider now directly owns 28,645,643 shares of the company's stock, valued at approximately $25,781,078.70. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company's shares 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 Monday, May 19th, Warburg Pincus (E&P) Xii Llc sold 193,940 shares of Ring Energy stock. The shares were sold at an average price of $0.82, for a total value of $159,030.80.
• On Friday, May 16th, Warburg Pincus (E&P) Xii Llc sold 406,408 shares of Ring Energy stock. The stock was sold at an average price of $0.81, for a total transaction of $329,190.48.
• On Thursday, May 15th, Warburg Pincus (E&P) Xii Llc sold 554,102 shares of Ring Energy stock. The shares were sold at an average price of $0.84, for a total transaction of $465,445.68.
• 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 Wednesday, May 14th, Warburg Pincus (E&P) Xii Llc sold 455,655 shares of Ring Energy stock. The stock was sold at an average price of $0.89, for a total value of $405,532.95.
• On Monday, February 24th, Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of Ring Energy stock. The shares were sold at an average price of $1.23, for a total value of $8,087,250.00.

Ring Energy Trading Down 3.7%

Shares of REI stock traded down $0.03 during mid-day trading on Tuesday, hitting $0.80. 544,402 shares of the company's stock were exchanged, compared to its average volume of 1,870,613. The stock has a market cap of $158.36 million, a price-to-earnings ratio of 1.40 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. Ring Energy, Inc. has a fifty-two week low of $0.78 and a fifty-two week high of $2.06. The stock has a 50-day simple moving average of $0.97 and a two-hundred day simple moving average of $1.32.

Institutional Trading of Ring Energy

A number of hedge funds have recently added to or reduced their stakes in REI. Empowered Funds LLC grew its position in Ring Energy by 8.6% during the first quarter. Empowered Funds LLC now owns 783,428 shares of the company's stock valued at $901,000 after acquiring an additional 62,317 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Ring Energy during the 1st quarter worth about $42,000. AQR Capital Management LLC raised its holdings in Ring Energy by 28.6% in the first 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 during the period. Ieq Capital LLC acquired a new position in Ring Energy during the first quarter valued at approximately $84,000. Finally, MetLife Investment Management LLC grew its stake in Ring Energy by 21.5% during the first quarter. MetLife Investment Management LLC now owns 66,197 shares of the company's stock worth $76,000 after buying an additional 11,693 shares during the period. 77.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on REI shares. Industrial Alliance Securities set a $2.50 price objective on Ring Energy in a research report 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.