Ring Energy, Inc. (NYSEAMERICAN:REI) CEO Paul D. Mckinney Buys 200,000 Shares

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

Ring Energy Stock Performance

NYSEAMERICAN:REI opened at $1.09 on Wednesday. The business has a fifty day simple moving average of $1.34. The stock has a market capitalization of $216.04 million, a PE ratio of 1.91 and a beta of 1.55. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.54 and a quick ratio of 0.49. Ring Energy, Inc. has a 1 year low of $1.05 and a 1 year high of $2.20.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its position in shares of Ring Energy by 34.6% in the third quarter. Geode Capital Management LLC now owns 2,970,929 shares of the company’s stock valued at $4,754,000 after buying an additional 763,907 shares in the last quarter. Barclays PLC increased its position in shares of Ring Energy by 272.6% in the third quarter. Barclays PLC now owns 194,186 shares of the company’s stock valued at $311,000 after buying an additional 142,074 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Ring Energy by 4,564.9% in the third quarter. JPMorgan Chase & Co. now owns 3,086,251 shares of the company’s stock valued at $4,938,000 after buying an additional 3,020,092 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Ring Energy by 2,244.6% in the third quarter. Franklin Resources Inc. now owns 235,168 shares of the company’s stock valued at $381,000 after buying an additional 225,138 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of Ring Energy in the third quarter valued at $96,000. Hedge funds and other institutional investors own 77.14% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. StockNews.com downgraded Ring Energy from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Industrial Alliance Securities set a $2.50 price target on Ring Energy in a report on Friday. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Ring Energy in a report on Friday.

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.