Insider Buying: Ring Energy, Inc. (NYSEAMERICAN:REI) CEO Acquires 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 purchased 20,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were purchased at an average price of $0.84 per share, for a total transaction of $16,800.00. Following the completion of the purchase, the chief executive officer directly owned 3,016,054 shares of the company's stock, valued at $2,533,485.36. This represents a 0.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Ring Energy Stock Down 1.2%

Shares of REI stock traded down $0.01 during trading on Monday, reaching $0.92. The company's stock had a trading volume of 1,779,399 shares, compared to its average volume of 2,832,079. Ring Energy, Inc. has a 1-year low of $0.72 and a 1-year high of $1.94. The stock's 50-day moving average price is $0.80 and its 200 day moving average price is $1.00. The company has a market capitalization of $190.02 million, a price-to-earnings ratio of 2.63 and a beta of 0.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.63 and a quick ratio of 0.58.

Ring Energy Dividend Announcement

The business also recently disclosed a jun 25 dividend, which was paid on Tuesday, July 8th. Stockholders of record on Monday, June 30th were paid a $0.0965 dividend.

Analyst Ratings Changes

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

Institutional Trading of Ring Energy

Several hedge funds have recently modified their holdings of REI. Oxford Asset Management LLP acquired a new stake in Ring Energy in the second quarter valued at approximately $72,000. Hudson Bay Capital Management LP purchased a new stake in shares of Ring Energy in the 2nd quarter valued at approximately $34,000. Bridgeway Capital Management LLC increased its position in shares of Ring Energy by 3.3% in the 2nd quarter. Bridgeway Capital Management LLC now owns 2,131,708 shares of the company's stock valued at $1,693,000 after purchasing an additional 67,637 shares during the last quarter. Brevan Howard Capital Management LP acquired a new stake in shares of Ring Energy in the 2nd quarter valued at $207,000. Finally, Ameriprise Financial Inc. lifted its position in shares of Ring Energy by 22.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,051,151 shares of the company's stock worth $4,805,000 after purchasing an additional 1,109,514 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.