Ring Energy Inc (NYSEAMERICAN:REI) CEO Kelly W. Hoffman bought 22,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were acquired at an average cost of $1.60 per share, for a total transaction of $35,200.00. Following the completion of the transaction, the chief executive officer now owns 59,546 shares of the company’s stock, valued at approximately $95,273.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Ring Energy stock traded up $0.07 during midday trading on Friday, hitting $1.47. The stock had a trading volume of 1,886,304 shares, compared to its average volume of 788,551. Ring Energy Inc has a 12 month low of $1.23 and a 12 month high of $11.79.
Ring Energy (NYSEAMERICAN:REI) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.04. The firm had revenue of $51.33 million during the quarter, compared to the consensus estimate of $49.66 million.
REI has been the topic of a number of analyst reports. Johnson Rice initiated coverage on Ring Energy in a research report on Tuesday, May 28th. They set a “buy” rating on the stock. Zacks Investment Research lowered Ring Energy from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Imperial Capital dropped their target price on Ring Energy from $6.00 to $4.00 and set an “outperform” rating on the stock in a research report on Thursday, August 22nd. Finally, LADENBURG THALM/SH SH lowered Ring Energy from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $5.00 to $3.00 in a research report on Monday, August 26th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $7.25.
Institutional investors have recently made changes to their positions in the stock. Atria Investments LLC bought a new stake in Ring Energy in the second quarter valued at about $643,000. BNP Paribas Arbitrage SA increased its holdings in Ring Energy by 62,700.0% in the first quarter. BNP Paribas Arbitrage SA now owns 11,932 shares of the company’s stock valued at $70,000 after buying an additional 11,913 shares during the last quarter. SG Americas Securities LLC bought a new stake in Ring Energy in the first quarter valued at about $103,000. Marshall Wace North America L.P. bought a new stake in Ring Energy in the first quarter valued at about $106,000. Finally, Creative Planning bought a new stake in Ring Energy in the first quarter valued at about $107,000.
Ring Energy Company Profile
Ring Energy, Inc, an exploration and production company, acquires, explores for, develops, and produces oil and natural gas in Texas, the United States. As of December 31, 2018, the company's proved reserves consisted of approximately 36.6 million barrel of oil equivalent. As of the above date, it also had interests in 17,408 net developed acres and 58,620 net undeveloped acres in Andrews and Gaines counties; and 19,138 net developed acres and 860 net undeveloped acres in Culberson and Reeves counties.
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