Insider Buying: Ring Energy (NYSEAMERICAN:REI) EVP Acquires 29,069 Shares of Stock

Key Points

• Alexander Dyes, EVP of Ring Energy, Inc. acquired 29,069 shares at an average price of $0.86, increasing his ownership in the company by 3.31% and bringing his total shares to 907,156.
• Ring Energy's stock recently reached $0.92, reflecting a trading increase of 13.3%, with a market capitalization of $190.37 million.
• Wall Street analysts from Alliance Global Partners have set a "buy" rating with a price target of $2.50, indicating expected future growth for the company.

Ring Energy, Inc. (NYSEAMERICAN:REI - Get Free Report) EVP Alexander Dyes acquired 29,069 shares of the stock in a transaction dated Thursday, August 14th. The shares were bought at an average price of $0.86 per share, with a total value of $24,999.34. Following the completion of the transaction, the executive vice president directly owned 907,156 shares of the company's stock, valued at $780,154.16. The trade was a 3.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Alexander Dyes also recently made the following trade(s):

• On Tuesday, May 20th, Alexander Dyes bought 63,203 shares of Ring Energy stock. The stock was acquired at an average price of $0.79 per share, with a total value of $49,930.37.

Ring Energy Trading Down 5.5%

REI stock traded down $0.0525 during mid-day trading on Tuesday, reaching $0.91. The company's stock had a trading volume of 632,975 shares, compared to its average volume of 2,827,520. The company has a market cap of $187.95 million, a price-to-earnings ratio of 2.60 and a beta of 0.80. The business's 50 day moving average price is $0.80 and its 200 day moving average price is $0.99. 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, Inc. has a 12 month low of $0.7151 and a 12 month high of $1.94.

Ring Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners began coverage on Ring Energy in a research report on Friday, July 11th. They set a "buy" rating and a $2.50 target price on the stock. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $2.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its position in Ring Energy by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 153,156 shares of the company's stock valued at $209,000 after buying an additional 9,805 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in shares of Ring Energy by 97.7% in the 1st quarter. Arkadios Wealth Advisors now owns 23,429 shares of the company's stock worth $27,000 after purchasing an additional 11,579 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Ring Energy by 21.5% in the 1st quarter. MetLife Investment Management LLC now owns 66,197 shares of the company's stock worth $76,000 after purchasing an additional 11,693 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Ring Energy by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 41,736 shares of the company's stock worth $57,000 after purchasing an additional 13,733 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Ring Energy by 99.3% in the 1st quarter. CWM LLC now owns 27,773 shares of the company's stock worth $32,000 after purchasing an additional 13,840 shares in the last quarter. Institutional investors own 77.14% of the company's stock.

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.