Ring Energy Inc (NYSEAMERICAN:REI) CEO Buys $14,700.00 in Stock

Ring Energy Inc (NYSEAMERICAN:REI) CEO Kelly W. Hoffman acquired 10,000 shares of the stock in a transaction on Friday, September 13th. The stock was bought at an average price of $1.47 per share, with a total value of $14,700.00. Following the transaction, the chief executive officer now directly owns 69,546 shares in the company, valued at approximately $102,232.62. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shares of NYSEAMERICAN REI opened at $1.58 on Friday. Ring Energy Inc has a 1 year low of $1.23 and a 1 year high of $11.79.

Ring Energy (NYSEAMERICAN:REI) last issued its earnings results on Wednesday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.04. The business had revenue of $51.33 million during the quarter, compared to the consensus estimate of $49.66 million.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its stake in 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 acquiring an additional 11,913 shares during the last quarter. Magnus Financial Group LLC bought a new position in Ring Energy during the 2nd quarter worth approximately $78,000. WINTON GROUP Ltd boosted its stake in Ring Energy by 23.8% during the 2nd quarter. WINTON GROUP Ltd now owns 26,620 shares of the company’s stock worth $87,000 after acquiring an additional 5,119 shares during the last quarter. Jane Street Group LLC bought a new position in Ring Energy during the 2nd quarter worth approximately $88,000. Finally, SG Americas Securities LLC bought a new position in Ring Energy during the 1st quarter worth approximately $103,000.

Several research analysts have recently issued reports on the stock. LADENBURG THALM/SH SH lowered shares of Ring Energy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $5.00 to $3.00 in a research note on Monday, August 26th. Zacks Investment Research lowered shares of Ring Energy from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Imperial Capital reduced their target price on shares of Ring Energy from $6.00 to $4.00 and set an “outperform” rating on the stock in a research note on Thursday, August 22nd. Finally, Johnson Rice assumed coverage on shares of Ring Energy in a research note on Tuesday, May 28th. They issued a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Ring Energy has an average rating of “Buy” and an average target price of $7.25.

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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