Ring Energy, Inc. (NYSEAMERICAN:REI) Major Shareholder Buys $1,354,261.38 in Stock

Ring Energy, Inc. (NYSEAMERICAN:REI – Get Rating) major shareholder William R. Kruse purchased 507,214 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were purchased at an average price of $2.67 per share, with a total value of $1,354,261.38. Following the purchase, the insider now directly owns 13,446,948 shares in the company, valued at approximately $35,903,351.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Ring Energy Trading Up 10.0 %

REI stock opened at $2.85 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.97. The firm has a market cap of $304.10 million, a PE ratio of -94.97 and a beta of 2.13. Ring Energy, Inc. has a fifty-two week low of $1.81 and a fifty-two week high of $5.09.

Ring Energy (NYSEAMERICAN:REI – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The business had revenue of $68.18 million for the quarter, compared to analysts’ expectations of $54.10 million. Ring Energy had a return on equity of 10.23% and a net margin of 1.69%. Analysts anticipate that Ring Energy, Inc. will post 0.61 earnings per share for the current fiscal year.

Institutional Trading of Ring Energy

A number of institutional investors have recently added to or reduced their stakes in REI. Vanguard Group Inc. raised its holdings in shares of Ring Energy by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 3,425,677 shares of the company’s stock valued at $13,086,000 after acquiring an additional 29,837 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Ring Energy by 151.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,320,800 shares of the company’s stock valued at $3,011,000 after acquiring an additional 796,100 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Ring Energy by 267.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,016,090 shares of the company’s stock valued at $3,881,000 after acquiring an additional 739,486 shares in the last quarter. HighTower Advisors LLC purchased a new stake in shares of Ring Energy in the 4th quarter valued at about $1,324,000. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of Ring Energy by 36,705.2% in the 4th quarter. BNP Paribas Arbitrage SA now owns 514,537 shares of the company’s stock valued at $1,173,000 after acquiring an additional 513,139 shares in the last quarter. Hedge funds and other institutional investors own 29.20% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Roth Capital downgraded Ring Energy from a “buy” rating to a “neutral” rating in a research note on Monday, August 1st.

Ring Energy Company Profile

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Ring Energy, Inc, an exploration and production company, engages in the acquisition, exploration, development, and production of oil and natural gas in Texas and New Mexico. As of December 31, 2021, the company's proved reserves consisted of approximately 77.8 million barrel of oil equivalent. It also had interests in 18,882 net developed acres and 1,406 net undeveloped acres in Andrews and Gaines counties, Texas; 18,437 net developed acres in Culberson and Reeves counties, Texas; and 13,662 net developed acres and 11,993 net undeveloped acres in Yoakum, Runnels, and Coke Counties, Texas and Lea County, New Mexico.