Ring Energy, Inc. (NYSEAMERICAN:REI - Get Free Report) CEO Paul D. Mckinney acquired 200,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average cost of $1.08 per share, for a total transaction of $216,000.00. Following the purchase, the chief executive officer now owns 2,966,054 shares of the company's stock, valued at approximately $3,203,338.32. The trade was a 7.23 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Ring Energy Trading Down 0.9 %
Shares of NYSEAMERICAN:REI opened at $1.09 on Wednesday. The stock has a 50-day simple moving average 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 12-month low of $1.05 and a 12-month high of $2.20. The firm has a market cap of $216.04 million, a price-to-earnings ratio of 1.91 and a beta of 1.55.
Wall Street Analyst Weigh In
A number of analysts recently commented on the company. Industrial Alliance Securities set a $2.50 price objective on Ring Energy in a research note on Friday. StockNews.com lowered Ring Energy from a "buy" rating to a "hold" rating in a research note on Thursday, November 14th. Finally, Alliance Global Partners reaffirmed a "buy" rating on shares of Ring Energy in a research note on Friday.
Read Our Latest Stock Analysis on Ring Energy
Institutional Trading of Ring Energy
Hedge funds have recently added to or reduced their stakes in the business. Creative Planning lifted its stake in shares of Ring Energy by 77.1% in the 3rd quarter. Creative Planning now owns 118,139 shares of the company's stock valued at $189,000 after purchasing an additional 51,429 shares in the last quarter. Atria Investments Inc acquired a new position in shares of Ring Energy in the 3rd quarter valued at about $230,000. Victory Capital Management Inc. lifted its stake in shares of Ring Energy by 22.4% in the 3rd quarter. Victory Capital Management Inc. now owns 119,079 shares of the company's stock valued at $191,000 after purchasing an additional 21,801 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Ring Energy by 18.9% in the 3rd quarter. Empowered Funds LLC now owns 686,254 shares of the company's stock valued at $1,098,000 after purchasing an additional 109,074 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Ring Energy by 43.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 139,960 shares of the company's stock valued at $224,000 after purchasing an additional 42,103 shares in the last quarter. 77.14% of the stock is owned by institutional investors and hedge funds.
About Ring Energy
(
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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.
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