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

Ring Energy, Inc. (NYSEAMERICAN:REI - Get Free Report) CEO Paul D. Mckinney purchased 200,000 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was acquired at an average price of $1.08 per share, for a total transaction of $216,000.00. Following the purchase, the chief executive officer now owns 2,966,054 shares in the company, valued at approximately $3,203,338.32. The trade was a 7.23 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Ring Energy Stock Down 3.0 %

NYSEAMERICAN:REI traded down $0.04 during mid-day trading on Thursday, hitting $1.13. 1,146,475 shares of the stock traded hands, compared to its average volume of 1,856,794. The company has a market cap of $222.98 million, a P/E ratio of 1.97 and a beta of 1.55. 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 firm's 50-day moving average is $1.34. Ring Energy, Inc. has a 12-month low of $1.05 and a 12-month high of $2.20.

Analyst Upgrades and Downgrades

REI has been the topic of several research analyst reports. Industrial Alliance Securities set a $2.50 target price on shares of Ring Energy in a research note on Friday, March 7th. StockNews.com lowered shares of Ring Energy from a "buy" rating to a "hold" rating in a research report on Thursday, November 14th. Finally, Alliance Global Partners restated a "buy" rating on shares of Ring Energy in a research note on Friday, March 7th.

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Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ameriprise Financial Inc. raised its stake in Ring Energy by 1.0% during the fourth quarter. Ameriprise Financial Inc. now owns 5,332,208 shares of the company's stock valued at $7,252,000 after buying an additional 51,577 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Ring Energy by 4,564.9% during the third 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. Geode Capital Management LLC boosted its holdings in shares of Ring Energy by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 3,060,543 shares of the company's stock worth $4,163,000 after purchasing an additional 89,614 shares during the period. State Street Corp boosted its holdings in Ring Energy by 0.6% during the 3rd quarter. State Street Corp now owns 2,398,808 shares of the company's stock valued at $3,838,000 after acquiring an additional 13,495 shares during the period. Finally, Millennium Management LLC increased its holdings in Ring Energy by 358.0% during the 4th quarter. Millennium Management LLC now owns 1,082,632 shares of the company's stock worth $1,472,000 after purchasing an additional 846,241 shares during the period. Institutional investors own 77.14% of the company's stock.

Ring Energy Company Profile

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.