Ring Energy, Inc. (NYSEAMERICAN:REI) Director Purchases $57,500.00 in Stock

Ring Energy, Inc. (NYSEAMERICAN:REI - Get Free Report) Director John A. Crum bought 50,000 shares of Ring Energy stock in a transaction on Tuesday, April 1st. The shares were acquired at an average price of $1.15 per share, for a total transaction of $57,500.00. Following the completion of the acquisition, the director now owns 564,125 shares in the company, valued at $648,743.75. This represents a 9.73 % 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 Price Performance

Shares of Ring Energy stock traded up $0.00 during trading hours on Monday, hitting $0.94. The company had a trading volume of 4,467,180 shares, compared to its average volume of 1,785,479. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.49 and a current ratio of 0.54. The company's 50-day moving average price is $1.26. The firm has a market cap of $186.39 million, a P/E ratio of 1.65 and a beta of 1.55. Ring Energy, Inc. has a twelve month low of $0.90 and a twelve month high of $2.20.

Hedge Funds Weigh In On Ring Energy

Several large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position in shares of Ring Energy by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 153,156 shares of the company's stock worth $209,000 after acquiring an additional 9,805 shares during the last quarter. MetLife Investment Management LLC grew its position in Ring Energy by 29.2% during the 4th quarter. MetLife Investment Management LLC now owns 54,504 shares of the company's stock worth $74,000 after purchasing an additional 12,312 shares during the last quarter. State Street Corp increased its stake in Ring Energy by 0.6% in the third quarter. State Street Corp now owns 2,398,808 shares of the company's stock valued at $3,838,000 after purchasing an additional 13,495 shares during the period. ProShare Advisors LLC raised its holdings in shares of Ring Energy by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 41,736 shares of the company's stock valued at $57,000 after buying an additional 13,733 shares during the last quarter. Finally, Vident Advisory LLC boosted its stake in shares of Ring Energy by 51.2% during the fourth quarter. Vident Advisory LLC now owns 43,557 shares of the company's stock worth $59,000 after buying an additional 14,753 shares during the period. Institutional investors and hedge funds own 77.14% of the company's stock.

Wall Street Analysts Forecast Growth

REI has been the topic of a number of analyst reports. Alliance Global Partners reaffirmed a "buy" rating on shares of Ring Energy in a research report on Friday, March 7th. Industrial Alliance Securities set a $2.50 price target on shares of Ring Energy in a research note on Friday, March 7th.

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.