Ring Energy, Inc. (NYSEAMERICAN:REI) CEO Purchases $16,800.00 in Stock

Ring Energy, Inc. (NYSEAMERICAN:REI) CEO Paul D. Mckinney purchased 20,000 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was purchased at an average price of $0.84 per share, with a total value of $16,800.00. Following the completion of the purchase, the chief executive officer directly owned 3,016,054 shares in the company, valued at $2,533,485.36. The trade was a 0.67% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Ring Energy Stock Up 1.1%

Shares of NYSEAMERICAN:REI opened at $0.93 on Friday. The company has a market capitalization of $192.39 million, a price-to-earnings ratio of 2.66 and a beta of 0.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.63 and a quick ratio of 0.58. The business’s 50-day moving average is $0.80 and its 200-day moving average is $1.00. Ring Energy, Inc. has a 1 year low of $0.72 and a 1 year high of $1.94.

Ring Energy Dividend Announcement

The company also recently declared a jun 25 dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 30th were paid a dividend of $0.0965 per share.

Analyst Ratings Changes

Separately, Alliance Global Partners started coverage on Ring Energy in a research note on Friday, July 11th. They issued a “buy” rating and a $2.50 price target for the company.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in REI. Valeo Financial Advisors LLC bought a new stake in Ring Energy during the 2nd quarter worth approximately $25,000. Arkadios Wealth Advisors grew its holdings in shares of Ring Energy by 97.7% in the first quarter. Arkadios Wealth Advisors now owns 23,429 shares of the company’s stock valued at $27,000 after acquiring an additional 11,579 shares in the last quarter. Abel Hall LLC bought a new position in shares of Ring Energy in the second quarter valued at approximately $28,000. Jump Financial LLC bought a new position in shares of Ring Energy in the second quarter valued at approximately $31,000. Finally, CWM LLC grew its holdings in shares of Ring Energy by 99.3% in the first quarter. CWM LLC now owns 27,773 shares of the company’s stock valued at $32,000 after acquiring an additional 13,840 shares in the last quarter. 77.14% of the stock is owned by institutional investors and hedge funds.

Ring Energy Company 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.