Insider Buying: Ring Energy (NYSEAMERICAN:REI) CEO Purchases 50,000 Shares of Stock

Ring Energy, Inc. (NYSEAMERICAN:REI) CEO Paul Mckinney acquired 50,000 shares of Ring Energy stock in a transaction on Monday, June 15th. The shares were bought at an average price of $1.19 per share, with a total value of $59,500.00. Following the purchase, the chief executive officer directly owned 4,158,463 shares in the company, 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 SEC, which is available at this hyperlink.

Ring Energy Stock Performance

Shares of NYSEAMERICAN REI traded down $0.05 during trading on Tuesday, reaching $1.12. 4,053,439 shares of the company traded hands, compared to its average volume of 4,854,788. The firm’s fifty day simple moving average is $1.43 and its 200 day simple moving average is $1.26. The stock has a market cap of $234.54 million, a P/E ratio of -0.88 and a beta of 0.80. Ring Energy, Inc. has a 12-month low of $0.72 and a 12-month high of $2.00. 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 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. Ring Energy had a positive return on equity of 5.10% and a negative net margin of 87.63%.The firm had revenue of $73.67 million during the quarter, compared to analyst estimates of $69.90 million. As a group, research analysts anticipate that Ring Energy, Inc. will post 0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. DGS Capital Management LLC lifted its holdings in Ring Energy by 65.4% in the fourth quarter. DGS Capital Management LLC now owns 31,196 shares of the company’s stock valued at $27,000 after acquiring an additional 12,331 shares during the last quarter. Yale University acquired a new position in Ring Energy during the third quarter worth $13,807,000. Founders Capital Management lifted its stake in Ring Energy by 29.4% during the third quarter. Founders Capital Management now owns 57,200 shares of the company’s stock worth $62,000 after purchasing an additional 13,000 shares in the last quarter. Van Den Berg Management I Inc. lifted its stake in Ring Energy by 39.9% during the third quarter. Van Den Berg Management I Inc. now owns 50,884 shares of the company’s stock worth $55,000 after purchasing an additional 14,523 shares in the last quarter. Finally, Callahan Advisors LLC lifted its stake in Ring Energy by 53.5% during the fourth quarter. Callahan Advisors LLC now owns 43,061 shares of the company’s stock worth $37,000 after purchasing an additional 15,000 shares in the last quarter. 77.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Ring Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus 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.