Paul D. Mckinney Acquires 200,000 Shares of Ring Energy, Inc. (NYSEAMERICAN:REI) Stock

Ring Energy, Inc. (NYSEAMERICAN:REI) CEO Paul D. Mckinney bought 200,000 shares of Ring Energy stock in a transaction on Monday, March 10th. The shares were acquired at an average price of $1.08 per share, for a total transaction of $216,000.00. Following the completion of the acquisition, the chief executive officer now owns 2,966,054 shares in the company, valued at $3,203,338.32. This represents a 7.23 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ring Energy Trading Up 6.4 %

Shares of REI opened at $1.16 on Thursday. Ring Energy, Inc. has a twelve month low of $1.05 and a twelve month high of $2.20. The firm has a fifty day moving average price of $1.34. The firm has a market cap of $229.91 million, a price-to-earnings ratio of 2.04 and a beta of 1.55. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.54 and a quick ratio of 0.49.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on REI shares. Alliance Global Partners reiterated a “buy” rating on shares of Ring Energy in a report on Friday, March 7th. Industrial Alliance Securities set a $2.50 price objective on shares of Ring Energy in a report on Friday, March 7th. Finally, StockNews.com lowered shares of Ring Energy from a “buy” rating to a “hold” rating in a report on Thursday, November 14th.

Institutional Investors Weigh In On Ring Energy

A number of hedge funds and other institutional investors have recently modified their holdings of REI. JPMorgan Chase & Co. grew its position in shares of Ring Energy by 4,564.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,086,251 shares of the company’s stock valued at $4,938,000 after buying an additional 3,020,092 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Ring Energy in the 4th quarter valued at $1,378,000. Segall Bryant & Hamill LLC purchased a new position in shares of Ring Energy in the 4th quarter valued at $1,167,000. Millennium Management LLC grew its position in shares of Ring Energy by 358.0% in the 4th quarter. Millennium Management LLC now owns 1,082,632 shares of the company’s stock valued at $1,472,000 after buying an additional 846,241 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Ring Energy by 34.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,970,929 shares of the company’s stock valued at $4,754,000 after buying an additional 763,907 shares during the last quarter. 77.14% of the stock is currently owned by institutional investors and hedge funds.

About Ring Energy

Ring Energy, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties. The company has interests in 56,711 net developed acres and 2,668 net undeveloped acres in Andrews, Gaines, Crane, Ector, Winkler, and Ward counties, Texas; and 8,751 net developed acres and 12,405 net undeveloped acres in Yoakum County, Texas and Lea County, New Mexico.