Insider Buying: Ring Energy, Inc. (NYSEAMERICAN:REI) CEO Acquires 200,000 Shares of Stock

Ring Energy, Inc. (NYSEAMERICAN:REI) CEO Paul D. Mckinney purchased 200,000 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was acquired at an average price of $1.08 per share, with a total value of $216,000.00. Following the completion of the transaction, the chief executive officer now owns 2,966,054 shares of the company’s stock, valued at $3,203,338.32. This represents a 7.23 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Ring Energy Stock Performance

Shares of REI opened at $1.13 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.49 and a current ratio of 0.54. Ring Energy, Inc. has a 52-week low of $1.05 and a 52-week high of $2.20. The company has a market cap of $223.97 million, a price-to-earnings ratio of 1.98 and a beta of 1.55. The firm has a fifty day simple moving average of $1.34.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on REI. Alliance Global Partners reaffirmed a “buy” rating on shares of Ring Energy in a research note on Friday, March 7th. StockNews.com lowered shares of Ring Energy from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Finally, Industrial Alliance Securities set a $2.50 price target on shares of Ring Energy in a report on Friday, March 7th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake in shares of Ring Energy by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 153,156 shares of the company’s stock worth $209,000 after buying an additional 9,805 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Ring Energy by 29.2% during the 4th quarter. MetLife Investment Management LLC now owns 54,504 shares of the company’s stock valued at $74,000 after acquiring an additional 12,312 shares in the last quarter. State Street Corp grew its position in Ring Energy by 0.6% during the 3rd quarter. State Street Corp now owns 2,398,808 shares of the company’s stock worth $3,838,000 after acquiring an additional 13,495 shares during the last quarter. ProShare Advisors LLC increased its holdings in 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, Vident Advisory LLC increased its stake in shares of Ring Energy by 51.2% in the fourth quarter. Vident Advisory LLC now owns 43,557 shares of the company’s stock valued at $59,000 after buying an additional 14,753 shares during the period. Institutional investors 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.