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

Warburg Pincus LLC cut its stake in Ring Energy, Inc. (NYSEAMERICAN:REI - Free Report) by 11.0% in the fourth quarter, according to 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 accounts for about 3.2% of Warburg Pincus LLC's investment portfolio, making the stock its 5th largest holding. Warburg Pincus LLC owned 17.92% of Ring Energy worth $48,308,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oxford Asset Management LLP purchased a new position in shares of Ring Energy in the fourth quarter worth approximately $72,000. Two Sigma Securities LLC boosted its holdings in shares of Ring Energy by 42.7% in the 4th quarter. Two Sigma Securities LLC now owns 60,111 shares of the company's stock worth $82,000 after purchasing an additional 17,987 shares during the period. RBF Capital LLC bought a new position in shares of Ring Energy during the 4th quarter valued at approximately $554,000. Price T Rowe Associates Inc. MD increased its position in shares of Ring Energy by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 153,156 shares of the company's stock valued at $209,000 after purchasing an additional 9,805 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Ring Energy by 204.0% during the fourth 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.

Ring Energy Trading Down 5.2 %

REI traded down $0.05 during trading on Monday, hitting $0.87. 1,025,337 shares of the stock were exchanged, compared to its average volume of 1,843,290. 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 $172.95 million, a price-to-earnings ratio of 1.53 and a beta of 1.55. The firm has a 50 day simple moving average of $1.06 and a 200 day simple moving average of $1.36. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.49 and a current ratio of 0.54.

Insiders Place Their Bets

In related news, CEO Paul D. Mckinney acquired 200,000 shares of the stock in a transaction dated Monday, March 10th. The stock was acquired at an average cost of $1.08 per share, for a total transaction of $216,000.00. Following the completion of the purchase, the chief executive officer now owns 2,966,054 shares of the company's stock, valued at approximately $3,203,338.32. This represents a 7.23 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of Ring Energy stock in a transaction dated Monday, February 24th. The stock was 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 of the company's stock, valued at approximately $35,603,140.89. This represents a 18.51 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on REI. 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 target price on shares of Ring Energy in a research note on Friday, March 7th.

Ring Energy 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.