Insider Buying: Ring Energy Inc (NYSEAMERICAN:REI) CEO Buys 15,000 Shares of Stock
Ring Energy Inc (NYSEAMERICAN:REI) CEO Kelly W. Hoffman acquired 15,000 shares of Ring Energy stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $1.40 per share, with a total value of $21,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,546 shares of the company’s stock, valued at $52,564.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of NYSEAMERICAN REI traded up $0.05 during trading on Tuesday, hitting $1.66. The stock had a trading volume of 2,178,757 shares, compared to its average volume of 769,119. Ring Energy Inc has a 12 month low of $1.23 and a 12 month high of $11.80.
Ring Energy (NYSEAMERICAN:REI) last announced its earnings results on Wednesday, August 7th. The company reported $0.16 EPS 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 analysts’ expectations of $49.66 million.
Hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA lifted its position in shares of Ring Energy by 62,700.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 11,932 shares of the company’s stock worth $70,000 after buying an additional 11,913 shares in the last quarter. Magnus Financial Group LLC purchased a new position in shares of Ring Energy in the 2nd quarter worth approximately $78,000. WINTON GROUP Ltd boosted its stake in shares of Ring Energy by 23.8% in the 2nd quarter. WINTON GROUP Ltd now owns 26,620 shares of the company’s stock worth $87,000 after buying an additional 5,119 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Ring Energy in the second quarter valued at approximately $88,000. Finally, SG Americas Securities LLC bought a new position in shares of Ring Energy in the first quarter valued at approximately $103,000.
About Ring Energy
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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