Ring Energy Inc (NYSEAMERICAN:REI) CEO Kelly W. Hoffman sold 90,375 shares of the firm’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $11.31, for a total value of $1,022,141.25. Following the completion of the transaction, the chief executive officer now directly owns 117,546 shares of the company’s stock, valued at $1,329,445.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
NYSEAMERICAN REI opened at $8.14 on Friday. Ring Energy Inc has a twelve month low of $7.56 and a twelve month high of $17.35.
Ring Energy (NYSEAMERICAN:REI) last released its quarterly earnings results on Wednesday, August 8th. The company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.04). Ring Energy had a net margin of 18.47% and a return on equity of 3.75%. The firm had revenue of $29.93 million for the quarter, compared to analysts’ expectations of $30.05 million.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Neuburgh Advisers LLC increased its holdings in shares of Ring Energy by 103.5% in the second quarter. Neuburgh Advisers LLC now owns 9,962 shares of the company’s stock worth $126,000 after buying an additional 5,066 shares during the period. Profund Advisors LLC purchased a new position in shares of Ring Energy in the first quarter worth about $146,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Ring Energy in the second quarter worth about $145,000. Cubist Systematic Strategies LLC purchased a new position in shares of Ring Energy in the first quarter worth about $170,000. Finally, CIBC World Markets Inc. purchased a new position in shares of Ring Energy in the second quarter worth about $151,000.
Ring Energy Company Profile
Ring Energy, Inc, an exploration and production company, acquires, explores for, develops, and produces oil and natural gas in Texas, the United States. As of December 31, 2017, the company's proved reserves consisted of approximately 31.9 million barrel of oil equivalent. As of the above date, it also had interests in 8,102 net developed acres and 61,772 net undeveloped acres in Andrews and Gaines counties; and 10,235 net developed acres and 9,682 net undeveloped acres in Culberson and Reeves counties.
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