Ring Energy, Inc. (NYSEAMERICAN:REI) to Issue $0.10 Jun 25 Dividend

Ring Energy, Inc. (NYSEAMERICAN:REI) announced a jun 25 dividend on Monday, June 16th, RTT News reports. Investors of record on Monday, June 30th will be paid a dividend of 0.0965 per share on Tuesday, July 8th.

Ring Energy Trading Down 5.6%

Ring Energy stock traded down $0.05 during trading hours on Monday, reaching $0.82. The company had a trading volume of 6,935,553 shares, compared to its average volume of 2,075,438. The firm has a market cap of $162.19 million, a price-to-earnings ratio of 1.44 and a beta of 1.55. Ring Energy has a 12-month low of $0.72 and a 12-month high of $2.06. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.54 and a quick ratio of 0.49. The company has a 50-day moving average price of $0.84 and a 200 day moving average price of $1.23.

Analyst Upgrades and Downgrades

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 research report on Friday, March 7th. Alliance Global Partners restated a “buy” rating on shares of Ring Energy in a research note on Friday, March 7th.

Insider Activity at Ring Energy

In other Ring Energy news, major shareholder Warburg Pincus (E&P) Xii Llc sold 2,486,027 shares of the company’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $0.92, for a total value of $2,287,144.84. Following the sale, the insider now owns 20,509,300 shares in the company, valued at approximately $18,868,556. This represents a 10.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John A. Crum purchased 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was bought at an average cost of $1.15 per share, for a total transaction of $57,500.00. Following the completion of the purchase, the director now directly owns 564,125 shares in the company, valued at $648,743.75. This represents a 9.73% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 8,436,343 shares of company stock valued at $7,183,625. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Ring Energy

Institutional investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new stake in Ring Energy in the first quarter valued at $42,000. Empowered Funds LLC raised its position in Ring Energy by 8.6% in the 1st quarter. Empowered Funds LLC now owns 783,428 shares of the company’s stock valued at $901,000 after purchasing an additional 62,317 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Ring Energy by 28.6% in the 1st quarter. AQR Capital Management LLC now owns 3,350,472 shares of the company’s stock valued at $3,853,000 after acquiring an additional 744,284 shares during the period. Hedge funds and other institutional investors own 77.14% of the company’s stock.

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.