Ring Energy, Inc. (NYSEAMERICAN:REI) CEO Purchases $24,000.00 in Stock

Key Points

• Paul D. Mckinney, the CEO of Ring Energy, purchased 30,000 shares at $0.80 each, increasing his ownership to approximately 2.996 million shares valued at over $2.39 million.
• Ring Energy's stock recently traded at $0.81, reflecting a 0.8% decline, with a market capitalization of $168.06 million and a price-to-earnings ratio of 2.32.
• Wall Street analysts have set a buy rating on Ring Energy with a target price of $2.50, indicating potential growth for the stock.

Ring Energy, Inc. (NYSEAMERICAN:REI - Get Free Report) CEO Paul D. Mckinney acquired 30,000 shares of Ring Energy stock in a transaction on Monday, August 11th. The shares were purchased at an average price of $0.80 per share, for a total transaction of $24,000.00. Following the completion of the acquisition, the chief executive officer directly owned 2,996,054 shares in the company, valued at $2,396,843.20. This trade represents a 1.01% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ring Energy Price Performance

Ring Energy stock traded down $0.01 during midday trading on Monday, reaching $0.92. The company had a trading volume of 1,779,399 shares, compared to its average volume of 2,832,079. 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, Inc. has a 12-month low of $0.72 and a 12-month high of $1.94. The company has a market capitalization of $190.02 million, a P/E ratio of 2.63 and a beta of 0.80. The firm's fifty day simple moving average is $0.80 and its 200-day simple moving average is $1.00.

Ring Energy Dividend Announcement

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of REI. Wellington Management Group LLP grew its holdings in shares of Ring Energy by 70.3% in the fourth quarter. Wellington Management Group LLP now owns 102,601 shares of the company's stock valued at $140,000 after purchasing an additional 42,353 shares during the period. Geode Capital Management LLC boosted its holdings in Ring Energy by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 3,060,543 shares of the company's stock valued at $4,163,000 after purchasing an additional 89,614 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Ring Energy by 23.4% in the 4th quarter. Wells Fargo & Company MN now owns 99,982 shares of the company's stock valued at $136,000 after buying an additional 18,944 shares during the period. Barclays PLC grew its stake in shares of Ring Energy by 14.8% in the 4th quarter. Barclays PLC now owns 222,884 shares of the company's stock valued at $303,000 after buying an additional 28,698 shares during the period. Finally, Mariner LLC acquired a new stake in shares of Ring Energy during the 4th quarter worth approximately $52,000. 77.14% of the stock is owned by hedge funds and other institutional investors.

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.