Ring Energy Inc (NYSEAMERICAN:REI) Director Purchases $20,375.00 in Stock

Ring Energy Inc (NYSEAMERICAN:REI) Director Rochford Living Trust Lloyd Ti purchased 12,500 shares of Ring Energy stock in a transaction dated Wednesday, September 11th. The stock was acquired at an average price of $1.63 per share, for a total transaction of $20,375.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ring Energy stock traded down $0.16 during midday trading on Wednesday, hitting $1.50. 1,775,724 shares of the company’s stock were exchanged, compared to its average volume of 775,183. Ring Energy Inc has a 12 month low of $1.23 and a 12 month high of $11.80.

Ring Energy (NYSEAMERICAN:REI) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.16 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 added to or reduced their stakes in the company. Atria Investments LLC bought a new position in Ring Energy in the second quarter worth approximately $643,000. United Services Automobile Association lifted its stake in shares of Ring Energy by 78.0% during the 2nd quarter. United Services Automobile Association now owns 1,485,522 shares of the company’s stock worth $4,828,000 after purchasing an additional 651,100 shares during the last quarter. Zacks Investment Management bought a new stake in Ring Energy during the second quarter valued at about $604,000. Victory Capital Management Inc. boosted its position in Ring Energy by 131.0% during the second quarter. Victory Capital Management Inc. now owns 279,400 shares of the company’s stock valued at $908,000 after purchasing an additional 158,461 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in Ring Energy by 39.5% in the second quarter. UBS Asset Management Americas Inc. now owns 72,796 shares of the company’s stock valued at $237,000 after purchasing an additional 20,618 shares during the last quarter.

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

See Also: Should You Consider an Index Fund?

Insider Buying and Selling by Quarter for Ring Energy (NYSEAMERICAN:REI)

Receive News & Ratings for Ring Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ring Energy and related companies with MarketBeat.com's FREE daily email newsletter.