Sundip Singh Johl Purchases 231,000 Shares of Ring Energy (NYSEAMERICAN:REI) Stock

Ring Energy, Inc. (NYSEAMERICAN:REI) EVP Sundip Singh Johl bought 231,000 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were acquired at an average price of $1.21 per share, for a total transaction of $279,510.00. Following the transaction, the executive vice president owned 548,460 shares in the company, valued at approximately $663,636.60. This represents a 72.77% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Ring Energy Stock Performance

Shares of NYSEAMERICAN:REI opened at $1.15 on Thursday. The company’s 50 day moving average price is $1.42 and its two-hundred day moving average price is $1.26. Ring Energy, Inc. has a 12-month low of $0.72 and a 12-month high of $2.00. The firm has a market cap of $240.82 million, a PE ratio of -0.91 and a beta of 0.80. The company has a quick ratio of 0.36, a current ratio of 0.40 and a debt-to-equity ratio of 0.69.

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

Institutional Trading of Ring Energy

Several large investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its position in shares of Ring Energy by 429.2% during the 1st quarter. Bank of America Corp DE now owns 286,013 shares of the company’s stock worth $438,000 after acquiring an additional 231,962 shares in the last quarter. Empowered Funds LLC lifted its stake in Ring Energy by 9.8% in the 1st quarter. Empowered Funds LLC now owns 1,167,286 shares of the company’s stock valued at $1,786,000 after purchasing an additional 103,740 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Ring Energy by 74.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,007,921 shares of the company’s stock valued at $1,542,000 after buying an additional 431,549 shares in the last quarter. Sigma Planning Corp acquired a new stake in Ring Energy in the first quarter valued at approximately $39,000. Finally, R Squared Ltd boosted its position in Ring Energy by 106.5% in the first quarter. R Squared Ltd now owns 51,950 shares of the company’s stock valued at $79,000 after buying an additional 26,798 shares in the last quarter. Institutional investors and hedge funds own 77.14% of the company’s stock.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Ring Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Strong Buy” and a consensus target price 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.