Ring Energy, Inc. (NYSEAMERICAN:REI) CEO Purchases $216,000.00 in Stock

Ring Energy, Inc. (NYSEAMERICAN:REI) CEO Paul D. Mckinney acquired 200,000 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were acquired at an average cost of $1.08 per share, with a total value of $216,000.00. Following the acquisition, the chief executive officer now directly owns 2,966,054 shares of the company’s stock, valued at $3,203,338.32. This represents a 7.23 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Ring Energy Stock Performance

Ring Energy stock traded down $0.01 during midday trading on Tuesday, hitting $1.09. 2,350,353 shares of the company’s stock were exchanged, compared to its average volume of 1,873,441. The firm has a market cap of $216.04 million, a P/E ratio of 1.91 and a beta of 1.55. 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 12 month low of $1.05 and a 12 month high of $2.20. The business’s 50-day moving average price is $1.35.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Industrial Alliance Securities set a $2.50 target price on shares of Ring Energy in a report on Friday. Alliance Global Partners reissued a “buy” rating on shares of Ring Energy in a report on Friday. Finally, StockNews.com cut shares of Ring Energy from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in REI. Vident Advisory LLC boosted its holdings in Ring Energy by 51.2% during the fourth quarter. Vident Advisory LLC now owns 43,557 shares of the company’s stock worth $59,000 after buying an additional 14,753 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Ring Energy by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 41,736 shares of the company’s stock worth $57,000 after acquiring an additional 13,733 shares during the period. Millennium Management LLC boosted its stake in shares of Ring Energy by 358.0% during the 4th quarter. Millennium Management LLC now owns 1,082,632 shares of the company’s stock worth $1,472,000 after acquiring an additional 846,241 shares in the last quarter. Graham Capital Management L.P. grew its position in shares of Ring Energy by 162.5% during the 4th quarter. Graham Capital Management L.P. now owns 256,122 shares of the company’s stock valued at $348,000 after acquiring an additional 158,548 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Ring Energy by 55.6% in the 4th quarter. Deutsche Bank AG now owns 217,452 shares of the company’s stock valued at $296,000 after purchasing an additional 77,658 shares in the last quarter. 77.14% of the stock is currently owned by institutional investors and hedge funds.

About Ring Energy

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.