Ring Energy, Inc. (NYSEAMERICAN:REI) Shares Sold by Warburg Pincus LLC

Warburg Pincus LLC trimmed its holdings in shares of Ring Energy, Inc. (NYSEAMERICAN:REI - Free Report) by 11.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,520,643 shares of the company's stock after selling 4,400,000 shares during the quarter. Ring Energy makes up approximately 3.2% of Warburg Pincus LLC's investment portfolio, making the stock its 5th biggest holding. Warburg Pincus LLC owned about 17.92% of Ring Energy worth $48,308,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in REI. Mraz Amerine & Associates Inc. acquired a new position in Ring Energy in the fourth quarter valued at approximately $27,000. Virtu Financial LLC acquired a new position in Ring Energy during the third quarter worth about $39,000. Tower Research Capital LLC TRC grew its holdings in shares of Ring Energy by 204.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 26,187 shares of the company's stock valued at $36,000 after purchasing an additional 17,574 shares during the period. R Squared Ltd purchased a new stake in shares of Ring Energy in the 4th quarter valued at approximately $41,000. Finally, Sequoia Financial Advisors LLC boosted its holdings in Ring Energy by 103.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 32,499 shares of the company's stock valued at $44,000 after acquiring an additional 16,558 shares during the period. Institutional investors own 77.14% of the company's stock.

Analyst Ratings Changes

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

Ring Energy Trading Down 1.1 %

Shares of REI stock traded down $0.01 during trading hours on Tuesday, hitting $0.86. 780,723 shares of the company were exchanged, compared to its average volume of 1,839,261. The firm has a fifty day moving average of $1.05 and a 200 day moving average of $1.35. 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 1 year low of $0.78 and a 1 year high of $2.06. The firm has a market cap of $171.05 million, a PE ratio of 1.51 and a beta of 1.55.

Insider Activity

In other news, CEO Paul D. Mckinney acquired 200,000 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average cost of $1.08 per share, for a total transaction of $216,000.00. Following the transaction, the chief executive officer now directly owns 2,966,054 shares in the company, valued at $3,203,338.32. This trade represents a 7.23 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of Ring Energy stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $1.23, for a total value of $8,087,250.00. Following the sale, the insider now directly owns 28,945,643 shares in the company, valued at approximately $35,603,140.89. This trade represents a 18.51 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

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.