Ring Energy (NYSEAMERICAN:REI) CEO Paul Mckinney Purchases 50,000 Shares

Ring Energy, Inc. (NYSEAMERICAN:REI) CEO Paul Mckinney purchased 50,000 shares of Ring Energy stock in a transaction dated Monday, June 15th. The shares were acquired at an average cost of $1.19 per share, for a total transaction of $59,500.00. Following the transaction, the chief executive officer directly owned 4,158,463 shares of the company’s stock, valued at approximately $4,948,570.97. This represents a 1.22% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ring Energy Stock Down 4.3%

Shares of REI stock traded down $0.05 during trading on Tuesday, reaching $1.12. The company’s stock had a trading volume of 4,053,439 shares, compared to its average volume of 4,854,788. 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 $234.54 million, a price-to-earnings ratio of -0.88 and a beta of 0.80. The stock’s 50-day moving average price is $1.43 and its 200 day moving average price is $1.26. Ring Energy, Inc. has a 1-year low of $0.72 and a 1-year high of $2.00.

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

Analyst Upgrades and Downgrades

Separately, Zacks Research raised 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 given a Buy rating to the company. Based on data from MarketBeat, Ring Energy presently has a consensus rating of “Strong Buy” and an average price target of $2.50.

Hedge Funds Weigh In On Ring Energy

Several large investors have recently bought and sold shares of REI. Royal Fund Management LLC purchased a new position in Ring Energy in the fourth quarter valued at $26,000. Centiva Capital LP purchased a new position in Ring Energy in the third quarter valued at $26,000. DGS Capital Management LLC increased its holdings in Ring Energy by 65.4% in the fourth quarter. DGS Capital Management LLC now owns 31,196 shares of the company’s stock valued at $27,000 after buying an additional 12,331 shares during the last quarter. Wealthcare Advisory Partners LLC purchased a new position in Ring Energy in the third quarter valued at $31,000. Finally, HRT Financial LP purchased a new position in Ring Energy in the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 77.14% of the company’s stock.

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.