Ring Energy (NYSEAMERICAN:REI) EVP Buys $279,510.00 in Stock

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

Ring Energy Trading Down 4.3%

Shares of Ring Energy stock traded down $0.05 during trading hours on Tuesday, hitting $1.12. The company’s stock had a trading volume of 4,053,439 shares, compared to its average volume of 4,854,788. Ring Energy, Inc. has a twelve month low of $0.72 and a twelve month high of $2.00. The stock has a market cap of $234.54 million, a price-to-earnings ratio of -0.88 and a beta of 0.80. The firm has a fifty day moving average of $1.43 and a 200-day moving average of $1.26. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.36 and a current ratio of 0.40.

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 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 business had revenue of $73.67 million during the quarter, compared to analysts’ expectations of $69.90 million. Research analysts forecast that Ring Energy, Inc. will post 0.25 EPS for the current year.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Ring Energy from a “hold” rating to a “strong-buy” rating in a research note 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 company. According to MarketBeat, the stock has an average rating of “Strong Buy” and an average price target of $2.50.

Institutional Trading of Ring Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Yale University purchased a new stake in Ring Energy in the 3rd quarter valued at $13,807,000. Centiva Capital LP purchased a new stake in Ring Energy in the 3rd quarter valued at $26,000. Sigma Planning Corp purchased a new stake in Ring Energy in the 1st quarter valued at $39,000. Wealthcare Advisory Partners LLC purchased a new stake in Ring Energy in the 3rd quarter valued at $31,000. Finally, Royal Fund Management LLC purchased a new stake in Ring Energy in the 4th quarter valued at $26,000. Hedge funds and other institutional investors own 77.14% of the company’s stock.

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.