Warburg Pincus LLC Trims Holdings in Ring Energy, Inc. (NYSEAMERICAN:REI)

Warburg Pincus LLC lowered its stake in shares of Ring Energy, Inc. (NYSEAMERICAN:REI - Free Report) by 13.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,920,643 shares of the company's stock after selling 6,200,000 shares during the quarter. Ring Energy comprises about 3.3% of Warburg Pincus LLC's holdings, making the stock its 6th largest position. Warburg Pincus LLC owned 20.14% of Ring Energy worth $63,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of REI. CreativeOne Wealth LLC bought a new position in Ring Energy during the 3rd quarter valued at $26,000. Ullmann Wealth Partners Group LLC boosted its holdings in shares of Ring Energy by 58.8% in the third quarter. Ullmann Wealth Partners Group LLC now owns 20,469 shares of the company's stock valued at $33,000 after acquiring an additional 7,583 shares in the last quarter. Caprock Group LLC increased its position in shares of Ring Energy by 44.0% during the 2nd quarter. Caprock Group LLC now owns 21,776 shares of the company's stock valued at $37,000 after purchasing an additional 6,655 shares during the period. CWM LLC raised its position in Ring Energy by 448.3% in the second quarter. CWM LLC now owns 23,367 shares of the company's stock worth $39,000 after acquiring an additional 19,105 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new position in Ring Energy in the first quarter worth approximately $47,000. Institutional investors and hedge funds own 77.14% of the company's stock.

Ring Energy Price Performance

Ring Energy stock traded down $0.08 during mid-day trading on Friday, reaching $1.38. The company had a trading volume of 2,331,612 shares, compared to its average volume of 1,749,226. 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 has a market cap of $273.52 million, a PE ratio of 2.42 and a beta of 1.59. Ring Energy, Inc. has a 52 week low of $1.25 and a 52 week high of $2.20.

Ring Energy (NYSEAMERICAN:REI - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. The company had revenue of $89.24 million for the quarter, compared to analyst estimates of $83.27 million. Ring Energy had a return on equity of 9.21% and a net margin of 29.44%. Analysts expect that Ring Energy, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling at Ring Energy

In other news, major shareholder Warburg Pincus & Co Us, Llc sold 4,400,000 shares of the firm's stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $1.62, for a total value of $7,128,000.00. Following the completion of the sale, the insider now directly owns 35,520,643 shares in the company, valued at approximately $57,543,441.66. This trade represents a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Ring Energy from a "buy" rating to a "hold" rating in a research report on Thursday, November 14th.

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.