Ring Energy Inc (NYSEAMERICAN:REI) Director Buys $15,400.00 in Stock
Ring Energy Inc (NYSEAMERICAN:REI) Director Stanley Myron Mccabe purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were bought at an average cost of $1.54 per share, for a total transaction of $15,400.00. Following the completion of the acquisition, the director now directly owns 1,690,634 shares in the company, valued at approximately $2,603,576.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of NYSEAMERICAN:REI traded down $0.16 during midday trading on Wednesday, hitting $1.50. 1,775,724 shares of the stock were exchanged, compared to its average volume of 775,183. Ring Energy Inc has a 12 month low of $1.23 and a 12 month high of $11.80.
Ring Energy (NYSEAMERICAN:REI) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.04. The firm had revenue of $51.33 million during the quarter, compared to analyst estimates of $49.66 million.
Several equities analysts recently commented on the stock. LADENBURG THALM/SH SH downgraded shares of Ring Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $5.00 to $3.00 in a research note on Monday, August 26th. Imperial Capital decreased their target price on shares of Ring Energy from $6.00 to $4.00 and set an “outperform” rating on the stock in a research note on Thursday, August 22nd. Zacks Investment Research downgraded shares of Ring Energy from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Finally, Johnson Rice began coverage on Ring Energy in a research note on Tuesday, May 28th. They issued a “buy” rating for the company. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $7.25.
About Ring Energy
Ring Energy, Inc, an exploration and production company, acquires, explores for, develops, and produces oil and natural gas in Texas, the United States. As of December 31, 2018, the company's proved reserves consisted of approximately 36.6 million barrel of oil equivalent. As of the above date, it also had interests in 17,408 net developed acres and 58,620 net undeveloped acres in Andrews and Gaines counties; and 19,138 net developed acres and 860 net undeveloped acres in Culberson and Reeves counties.
Receive News & Ratings for Ring Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ring Energy and related companies with MarketBeat.com's FREE daily email newsletter.