Ring Energy, Inc. (NYSEAMERICAN:REI) EVP Alexander Dyes Acquires 29,069 Shares

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 purchased 29,069 shares of the business's stock in a transaction on Thursday, August 14th. The shares were purchased at an average price of $0.86 per share, with a total value of $24,999.34. Following the acquisition, the executive vice president directly owned 907,156 shares in the company, valued at $780,154.16. This represents a 3.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

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

Ring Energy Trading Up 13.3%

Shares of REI stock traded up $0.11 on Thursday, reaching $0.92. 6,971,752 shares of the company's stock were exchanged, compared to its average volume of 3,035,021. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 0.50. The company's fifty day simple moving average is $0.79 and its 200 day simple moving average is $1.00. The stock has a market capitalization of $190.37 million, a PE ratio of 2.63 and a beta of 0.80. Ring Energy, Inc. has a 52 week low of $0.72 and a 52 week high of $1.94.

Ring Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

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 price target for the company.

Institutional Trading of Ring Energy

A number of hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP grew its position in Ring Energy by 70.3% in the fourth quarter. Wellington Management Group LLP now owns 102,601 shares of the company's stock worth $140,000 after acquiring an additional 42,353 shares during the period. Geode Capital Management LLC boosted its stake in shares of Ring Energy by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 3,060,543 shares of the company's stock worth $4,163,000 after acquiring an additional 89,614 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Ring Energy by 23.4% during the 4th quarter. Wells Fargo & Company MN now owns 99,982 shares of the company's stock worth $136,000 after acquiring an additional 18,944 shares in the last quarter. Barclays PLC lifted its stake in 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 in the last quarter. Finally, Mariner LLC acquired a new position in Ring Energy in the 4th quarter valued at $52,000. Hedge funds and other 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.

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