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

Ring Energy, Inc. (NYSEAMERICAN:REI) EVP Sundip Singh Johl bought 231,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average cost of $1.21 per share, with a total value of $279,510.00. Following the acquisition, the executive vice president directly owned 548,460 shares of the company’s stock, valued at approximately $663,636.60. This trade represents a 72.77% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ring Energy Trading Down 4.3%

Ring Energy stock opened at $1.12 on Wednesday. The company has a quick ratio of 0.36, a current ratio of 0.40 and a debt-to-equity ratio of 0.69. Ring Energy, Inc. has a 52 week low of $0.72 and a 52 week high of $2.00. The company has a market capitalization of $234.54 million, a price-to-earnings ratio of -0.88 and a beta of 0.80. The stock has a 50-day moving average price of $1.42 and a 200 day moving average price of $1.26.

Ring Energy (NYSEAMERICAN:REI) last released its earnings results on Wednesday, May 6th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Ring Energy had a positive return on equity of 5.10% and a negative net margin of 87.63%.The firm had revenue of $73.67 million during the quarter, compared to the consensus estimate of $69.90 million. Sell-side analysts anticipate that Ring Energy, Inc. will post 0.25 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. DGS Capital Management LLC lifted its holdings in Ring Energy by 65.4% in the fourth quarter. DGS Capital Management LLC now owns 31,196 shares of the company’s stock valued at $27,000 after acquiring an additional 12,331 shares during the period. Yale University acquired a new position in Ring Energy in the third quarter valued at approximately $13,807,000. Founders Capital Management lifted its holdings in Ring Energy by 29.4% in the third quarter. Founders Capital Management now owns 57,200 shares of the company’s stock valued at $62,000 after acquiring an additional 13,000 shares during the period. Van Den Berg Management I Inc. lifted its holdings in Ring Energy by 39.9% in the third quarter. Van Den Berg Management I Inc. now owns 50,884 shares of the company’s stock valued at $55,000 after acquiring an additional 14,523 shares during the period. Finally, Callahan Advisors LLC lifted its holdings in Ring Energy by 53.5% in the fourth quarter. Callahan Advisors LLC now owns 43,061 shares of the company’s stock valued at $37,000 after acquiring an additional 15,000 shares during the period. 77.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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