Ring Energy, Inc. (NYSEAMERICAN:REI - Get Free Report) major shareholder Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of the company's 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 transaction, the insider now directly owns 28,945,643 shares of the company's stock, valued at $35,603,140.89. This trade represents a 18.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Ring Energy Stock Performance
REI opened at $1.28 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.49 and a current ratio of 0.54. The company has a market capitalization of $253.70 million, a P/E ratio of 2.25 and a beta of 1.55. Ring Energy, Inc. has a 12 month low of $1.21 and a 12 month high of $2.20.
Hedge Funds Weigh In On Ring Energy
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ameriprise Financial Inc. increased its position in shares of Ring Energy by 1.0% during the 4th quarter. Ameriprise Financial Inc. now owns 5,332,208 shares of the company's stock valued at $7,252,000 after purchasing an additional 51,577 shares during the period. JPMorgan Chase & Co. grew its holdings in Ring Energy by 4,564.9% during the third quarter. JPMorgan Chase & Co. now owns 3,086,251 shares of the company's stock worth $4,938,000 after acquiring an additional 3,020,092 shares during the period. Geode Capital Management LLC grew its holdings in Ring Energy by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 3,060,543 shares of the company's stock worth $4,163,000 after acquiring an additional 89,614 shares during the period. State Street Corp raised its position in Ring Energy by 0.6% in the third quarter. State Street Corp now owns 2,398,808 shares of the company's stock worth $3,838,000 after acquiring an additional 13,495 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Ring Energy by 358.0% in the 4th quarter. Millennium Management LLC now owns 1,082,632 shares of the company's stock valued at $1,472,000 after acquiring an additional 846,241 shares during the last quarter. Institutional investors own 77.14% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, StockNews.com downgraded Ring Energy from a "buy" rating to a "hold" rating in a research note on Thursday, November 14th.
Read Our Latest Analysis on Ring Energy
Ring Energy Company Profile
(
Get Free Report)
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.
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