Insider Buying: Ring Energy, Inc. (NYSEAMERICAN:REI) CEO Purchases 20,000 Shares of Stock

Key Points

• Paul D. Mckinney, CEO of Ring Energy, Inc. (NYSEAMERICAN:REI), acquired 20,000 shares of the company's stock at an average price of $0.84 per share, increasing his ownership by 0.67% to a total of over 3 million shares.
• The company's stock is currently trading at $0.81 with a market cap of $168.06 million, and analysts have set a new price target of $2.50 with a "buy" rating from Alliance Global Partners.
• Institutional investors own 77.14% of Ring Energy's stock, with several firms significantly increasing their stakes in recent quarters.

Ring Energy, Inc. (NYSEAMERICAN:REI - Get Free Report) CEO Paul D. Mckinney acquired 20,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was acquired at an average cost of $0.84 per share, with a total value of $16,800.00. Following the transaction, the chief executive officer directly owned 3,016,054 shares in the company, valued at approximately $2,533,485.36. This represents a 0.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ring Energy Stock Performance

Shares of NYSEAMERICAN REI traded down $0.01 during trading on Wednesday, reaching $0.81. 3,258,564 shares of the company traded hands, compared to its average volume of 2,995,930. The firm's fifty day simple moving average is $0.79 and its 200 day simple moving average is $1.01. The stock has a market cap of $168.06 million, a P/E ratio of 2.32 and a beta of 0.80. Ring Energy, Inc. has a 12-month low of $0.72 and a 12-month high of $1.94. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 0.50.

Ring Energy Dividend Announcement

The firm also recently announced a jun 25 dividend, which was paid on Tuesday, July 8th. Stockholders of record on Monday, June 30th were given a dividend of $0.0965 per share.

Analysts Set New Price Targets

Separately, Alliance Global Partners started coverage on Ring Energy in a research report on Friday, July 11th. They issued a "buy" rating and a $2.50 price objective for the company.

Institutional Investors Weigh In On Ring Energy

Several institutional investors have recently bought and sold shares of the company. Marshall Wace LLP acquired a new position in shares of Ring Energy during the 4th quarter worth approximately $1,378,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Ring Energy by 639.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 82,559 shares of the company's stock worth $95,000 after purchasing an additional 71,388 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Ring Energy by 15.6% during the 4th quarter. BNP Paribas Financial Markets now owns 168,590 shares of the company's stock worth $229,000 after purchasing an additional 22,790 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Ring Energy by 358.0% during the 4th quarter. Millennium Management LLC now owns 1,082,632 shares of the company's stock worth $1,472,000 after purchasing an additional 846,241 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of Ring Energy by 103.1% during the 4th quarter. Cetera Investment Advisers now owns 90,257 shares of the company's stock worth $123,000 after purchasing an additional 45,822 shares during the last quarter. 77.14% of the stock is currently owned by institutional investors and hedge funds.

Ring Energy Company Profile

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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