Warburg Pincus LLC Has $48.31 Million Stock Position in Ring Energy, Inc. (NYSEAMERICAN:REI)

Warburg Pincus LLC reduced its stake in shares of Ring Energy, Inc. (NYSEAMERICAN:REI) by 11.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,520,643 shares of the company’s stock after selling 4,400,000 shares during the quarter. Ring Energy accounts for 3.2% of Warburg Pincus LLC’s portfolio, making the stock its 5th largest position. Warburg Pincus LLC owned about 17.92% of Ring Energy worth $48,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mraz Amerine & Associates Inc. acquired a new stake in shares of Ring Energy in the 4th quarter valued at $27,000. Tower Research Capital LLC TRC lifted its stake 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 valued at $36,000 after purchasing an additional 17,574 shares during the period. Virtu Financial LLC bought a new position in shares of Ring Energy in the 3rd quarter worth $39,000. R Squared Ltd acquired a new stake in shares of Ring Energy during the fourth quarter worth $41,000. Finally, Sequoia Financial Advisors LLC increased its holdings in Ring Energy by 103.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 32,499 shares of the company’s stock valued at $44,000 after purchasing an additional 16,558 shares during the last quarter. 77.14% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director John A. Crum bought 50,000 shares of Ring Energy stock in a transaction dated Tuesday, April 1st. The shares were bought at an average cost of $1.15 per share, with a total value of $57,500.00. Following the acquisition, the director now owns 564,125 shares in the company, valued at $648,743.75. This trade represents a 9.73 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 28,945,643 shares of the company’s stock, 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. Company insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Industrial Alliance Securities set a $2.50 target price on Ring Energy in a report on Friday, March 7th. Alliance Global Partners restated a “buy” rating on shares of Ring Energy in a report on Friday, March 7th.

Ring Energy Price Performance

Shares of REI opened at $0.89 on Thursday. The firm has a market capitalization of $175.63 million, a PE ratio of 1.55 and a beta of 1.55. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.54 and a quick ratio of 0.49. The company’s 50-day moving average is $1.08 and its 200-day moving average is $1.37. Ring Energy, Inc. has a fifty-two week low of $0.78 and a fifty-two week high of $2.06.

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.