Ring Energy, Inc. (NYSEAMERICAN:REI) to Issue Jun 25 Dividend of $0.10

Ring Energy, Inc. (NYSEAMERICAN:REI - Get Free Report) announced a jun 25 dividend on Monday, June 16th, RTT News reports. Shareholders of record on Monday, June 30th will be paid a dividend of 0.0965 per share on Tuesday, July 8th.

Ring Energy Price Performance

REI traded down $0.05 during midday trading on Monday, reaching $0.82. 6,935,553 shares of the company's stock were exchanged, compared to its average volume of 2,075,438. The company has a quick ratio of 0.49, a current ratio of 0.54 and a debt-to-equity ratio of 0.46. The business has a 50-day simple moving average of $0.84 and a two-hundred day simple moving average of $1.23. The firm has a market capitalization of $162.19 million, a price-to-earnings ratio of 1.44 and a beta of 1.55. Ring Energy has a one year low of $0.72 and a one year high of $2.06.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Industrial Alliance Securities set a $2.50 target price on Ring Energy in a report on Friday, March 7th. Alliance Global Partners reissued a "buy" rating on shares of Ring Energy in a research note on Friday, March 7th.

Insider Activity at Ring Energy

In other news, EVP Alexander Dyes purchased 63,203 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were purchased at an average cost of $0.79 per share, with a total value of $49,930.37. Following the completion of the purchase, the executive vice president now owns 878,087 shares of the company's stock, valued at $693,688.73. This trade represents a 7.76% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director John A. Crum bought 50,000 shares of Ring Energy stock in a transaction on Tuesday, April 1st. The shares were acquired at an average cost of $1.15 per share, for a total transaction of $57,500.00. Following the completion of the acquisition, the director now directly owns 564,125 shares in the company, valued at approximately $648,743.75. The trade was a 9.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 8,436,343 shares of company stock worth $7,183,625. Company insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd bought a new position in Ring Energy during the first quarter valued at about $42,000. Empowered Funds LLC increased its holdings in Ring Energy by 8.6% during the 1st quarter. Empowered Funds LLC now owns 783,428 shares of the company's stock worth $901,000 after acquiring an additional 62,317 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of Ring Energy by 28.6% in the 1st quarter. AQR Capital Management LLC now owns 3,350,472 shares of the company's stock valued at $3,853,000 after acquiring an additional 744,284 shares in the last quarter. Institutional investors and hedge funds own 77.14% of the company's stock.

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.

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