Ring Energy (NYSEAMERICAN:REI) EVP Acquires $279,510.00 in Stock

Ring Energy, Inc. (NYSEAMERICAN:REI) EVP Sundip Singh Johl bought 231,000 shares of the stock in a transaction on Monday, June 15th. The stock was purchased at an average price of $1.21 per share, for a total transaction of $279,510.00. Following the purchase, the executive vice president directly owned 548,460 shares of the company’s stock, valued at approximately $663,636.60. This represents a 72.77% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Ring Energy Stock Down 0.9%

REI opened at $1.14 on Friday. Ring Energy, Inc. has a fifty-two week low of $0.72 and a fifty-two week high of $2.00. The business has a 50-day moving average of $1.41 and a 200-day 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. The company has a market capitalization of $238.73 million, a PE ratio of -0.90 and a beta of 0.80.

Ring Energy (NYSEAMERICAN:REI) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $73.67 million for the quarter, compared to the consensus estimate of $69.90 million. Ring Energy had a positive return on equity of 5.10% and a negative net margin of 87.63%. Equities research analysts forecast that Ring Energy, Inc. will post 0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of REI. Royal Fund Management LLC acquired a new stake in Ring Energy during the fourth quarter worth about $26,000. Centiva Capital LP acquired a new position in Ring Energy in the 3rd quarter valued at approximately $26,000. DGS Capital Management LLC raised its holdings in Ring Energy by 65.4% in the 4th quarter. DGS Capital Management LLC now owns 31,196 shares of the company’s stock valued at $27,000 after acquiring an additional 12,331 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new position in Ring Energy in the 3rd quarter valued at approximately $31,000. Finally, HRT Financial LP bought a new stake in shares of Ring Energy in the 4th quarter worth approximately $31,000. 77.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of Ring Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. Based on data from MarketBeat, Ring Energy currently has a consensus rating of “Strong Buy” and a consensus target price of $2.50.

About Ring Energy

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.