Ring Energy, Inc. (NYSEAMERICAN:REI) CEO Paul D. Mckinney Acquires 200,000 Shares

Ring Energy, Inc. (NYSEAMERICAN:REI) CEO Paul D. Mckinney acquired 200,000 shares of the stock in a transaction on Monday, March 10th. The shares were acquired at an average cost of $1.08 per share, for a total transaction of $216,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,966,054 shares in the company, valued at $3,203,338.32. The trade was a 7.23 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Ring Energy Stock Up 6.4 %

Shares of NYSEAMERICAN:REI opened at $1.16 on Thursday. The stock has a market capitalization of $229.91 million, a P/E ratio of 2.04 and a beta of 1.55. The company has a 50-day moving average price of $1.34. The company has a current ratio of 0.54, a quick ratio of 0.49 and a debt-to-equity ratio of 0.46. Ring Energy, Inc. has a fifty-two week low of $1.05 and a fifty-two week high of $2.20.

Institutional Trading of Ring Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in shares of Ring Energy by 34.6% in the third quarter. Geode Capital Management LLC now owns 2,970,929 shares of the company’s stock valued at $4,754,000 after acquiring an additional 763,907 shares in the last quarter. Barclays PLC boosted its holdings in shares of Ring Energy by 272.6% in the third quarter. Barclays PLC now owns 194,186 shares of the company’s stock valued at $311,000 after acquiring an additional 142,074 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Ring Energy by 4,564.9% in the third quarter. JPMorgan Chase & Co. now owns 3,086,251 shares of the company’s stock valued at $4,938,000 after acquiring an additional 3,020,092 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Ring Energy by 2,244.6% in the third quarter. Franklin Resources Inc. now owns 235,168 shares of the company’s stock valued at $381,000 after acquiring an additional 225,138 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in shares of Ring Energy in the third quarter valued at about $96,000. Hedge funds and other institutional investors own 77.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Alliance Global Partners reissued a “buy” rating on shares of Ring Energy in a research report on Friday, March 7th. StockNews.com downgraded shares of Ring Energy from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, Industrial Alliance Securities set a $2.50 price objective on shares of Ring Energy in a research report on Friday, March 7th.

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.