Paul Mckinney Buys 50,000 Shares of Ring Energy (NYSEAMERICAN:REI) Stock

Ring Energy, Inc. (NYSEAMERICAN:REI) CEO Paul Mckinney purchased 50,000 shares of the company’s 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 completion of the transaction, the chief executive officer owned 4,158,463 shares of the company’s stock, valued at approximately $4,948,570.97. The trade was a 1.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Ring Energy Price Performance

Shares of REI opened at $1.15 on Thursday. Ring Energy, Inc. has a 1-year low of $0.72 and a 1-year high of $2.00. The stock has a market cap of $240.82 million, a PE ratio of -0.91 and a beta of 0.80. The firm has a 50-day simple moving average of $1.42 and a two-hundred day simple moving average of $1.26. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.40 and a quick ratio of 0.36.

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. As a group, analysts forecast that Ring Energy, Inc. will post 0.25 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in REI. GSA Capital Partners LLP acquired a new position in Ring Energy during the 3rd quarter worth approximately $795,000. WINTON GROUP Ltd grew its holdings in Ring Energy by 264.8% during the 3rd quarter. WINTON GROUP Ltd now owns 729,892 shares of the company’s stock worth $796,000 after acquiring an additional 529,838 shares in the last quarter. Bank of America Corp DE grew its holdings in Ring Energy by 125.3% during the 3rd quarter. Bank of America Corp DE now owns 79,837 shares of the company’s stock worth $87,000 after acquiring an additional 44,394 shares in the last quarter. Van Den Berg Management I Inc. grew its holdings in Ring Energy by 39.9% during the 3rd quarter. Van Den Berg Management I Inc. now owns 50,884 shares of the company’s stock worth $55,000 after acquiring an additional 14,523 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Ring Energy during the 1st quarter worth approximately $42,000. 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 report on Friday, May 1st. One 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, Ring Energy currently has an average rating of “Strong Buy” and a consensus 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.