Ring Energy (NYSEAMERICAN:REI) CEO Paul Mckinney Purchases 50,000 Shares

Ring Energy, Inc. (NYSEAMERICAN:REI) CEO Paul Mckinney bought 50,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were acquired at an average price of $1.19 per share, with a total value of $59,500.00. Following the completion of the transaction, the chief executive officer owned 4,158,463 shares of the company’s stock, valued at approximately $4,948,570.97. The trade was a 1.22% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Ring Energy Stock Down 4.3%

NYSEAMERICAN:REI opened at $1.12 on Wednesday. Ring Energy, Inc. has a twelve month low of $0.72 and a twelve month high of $2.00. The company has a market cap of $234.54 million, a price-to-earnings ratio of -0.88 and a beta of 0.80. The stock has a fifty day simple moving average of $1.42 and a 200-day simple moving average of $1.26. The company has a current ratio of 0.40, a quick ratio of 0.36 and a debt-to-equity ratio of 0.69.

Ring Energy (NYSEAMERICAN:REI) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. The firm had revenue of $73.67 million for the quarter, compared to analyst estimates of $69.90 million. Ring Energy had a positive return on equity of 5.10% and a negative net margin of 87.63%. Analysts anticipate that Ring Energy, Inc. will post 0.25 EPS for the current year.

Hedge Funds Weigh In On Ring Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Ring Energy by 18.0% in the third quarter. Vanguard Group Inc. now owns 10,613,683 shares of the company’s stock valued at $11,569,000 after purchasing an additional 1,617,668 shares during the last quarter. Barclays PLC grew its stake in Ring Energy by 32.8% in the third quarter. Barclays PLC now owns 8,000,090 shares of the company’s stock valued at $8,720,000 after purchasing an additional 1,975,000 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Ring Energy by 22.5% in the second quarter. Ameriprise Financial Inc. now owns 6,051,151 shares of the company’s stock valued at $4,805,000 after purchasing an additional 1,109,514 shares during the last quarter. UBS Group AG grew its stake in Ring Energy by 16.9% in the third quarter. UBS Group AG now owns 3,933,268 shares of the company’s stock valued at $4,287,000 after purchasing an additional 569,626 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Ring Energy by 28.6% in the first quarter. AQR Capital Management LLC now owns 3,350,472 shares of the company’s stock valued at $3,853,000 after purchasing an additional 744,284 shares during the last quarter. Hedge funds and other institutional investors own 77.14% of the company’s stock.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Ring Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Strong Buy” and an average price target of $2.50.

Ring Energy Company Profile

Ring Energy, Inc is an independent oil and natural gas exploration and production company focused on the development, acquisition and operation of upstream assets in the United States. Headquartered in Odessa, Texas, the company concentrates its activities on onshore hydrocarbon plays, where it seeks to optimize production through technical innovation, cost management and disciplined capital allocation. Ring Energy trades on the NYSE American under the ticker symbol REI.

The company’s core operations are centered in the Permian Basin, one of North America’s most prolific oil-producing regions.