Ring Energy (NYSEAMERICAN:REI) EVP Sundip Singh Johl Buys 231,000 Shares

Ring Energy, Inc. (NYSEAMERICAN:REI) EVP Sundip Singh Johl acquired 231,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was purchased at an average cost of $1.21 per share, for a total transaction of $279,510.00. Following the completion of the purchase, the executive vice president directly owned 548,460 shares in the company, valued at $663,636.60. This trade represents a 72.77% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ring Energy Stock Performance

REI traded down $0.05 during trading on Tuesday, hitting $1.12. The stock had a trading volume of 4,053,439 shares, compared to its average volume of 4,854,788. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.36 and a current ratio of 0.40. The firm has a market capitalization of $234.54 million, a P/E ratio of -0.88 and a beta of 0.80. The company’s 50-day moving average price is $1.43 and its 200 day moving average price is $1.26. Ring Energy, Inc. has a twelve month low of $0.72 and a twelve month high of $2.00.

Ring Energy (NYSEAMERICAN:REI) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The company had revenue of $73.67 million for the quarter, compared to analysts’ expectations of $69.90 million. Ring Energy had a negative net margin of 87.63% and a positive return on equity of 5.10%. On average, equities research analysts forecast that Ring Energy, Inc. will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Ring Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Yale University purchased a new stake in shares of Ring Energy in the 3rd quarter worth about $13,807,000. Centiva Capital LP purchased a new stake in shares of Ring Energy in the 3rd quarter worth about $26,000. Sigma Planning Corp purchased a new stake in shares of Ring Energy in the 1st quarter worth about $39,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of Ring Energy in the 3rd quarter worth about $31,000. Finally, Royal Fund Management LLC purchased a new stake in shares of Ring Energy in the 4th quarter worth about $26,000. 77.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of Ring Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Strong Buy” and an average target price of $2.50.

Ring Energy Company Profile

Ring Energy, Inc is an independent oil and natural gas exploration and production company focused on the development, acquisition and operation of upstream assets in the United States. Headquartered in Odessa, Texas, the company concentrates its activities on onshore hydrocarbon plays, where it seeks to optimize production through technical innovation, cost management and disciplined capital allocation. Ring Energy trades on the NYSE American under the ticker symbol REI.

The company’s core operations are centered in the Permian Basin, one of North America’s most prolific oil-producing regions.