Ring Energy Inc (NYSEAMERICAN:REI) President David A. Fowler bought 20,750 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average price of $1.66 per share, with a total value of $34,445.00. Following the completion of the purchase, the president now owns 152,900 shares in the company, valued at $253,814. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of NYSEAMERICAN REI opened at $1.49 on Friday. Ring Energy Inc has a one year low of $1.23 and a one year high of $11.80.
Ring Energy (NYSEAMERICAN:REI) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.12 by $0.04. The company had revenue of $51.33 million during the quarter, compared to analysts’ expectations of $49.66 million.
A number of hedge funds and other institutional investors have recently modified their holdings of REI. BNP Paribas Arbitrage SA grew its holdings in shares of Ring Energy by 62,700.0% during the first quarter. BNP Paribas Arbitrage SA now owns 11,932 shares of the company’s stock worth $70,000 after buying an additional 11,913 shares in the last quarter. Magnus Financial Group LLC purchased a new stake in shares of Ring Energy during the second quarter worth $78,000. WINTON GROUP Ltd grew its holdings in shares of Ring Energy by 23.8% during the second quarter. WINTON GROUP Ltd now owns 26,620 shares of the company’s stock worth $87,000 after buying an additional 5,119 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Ring Energy during the second quarter worth $88,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Ring Energy during the first quarter worth $103,000.
Several equities analysts recently issued reports on the stock. Imperial Capital decreased their target price on shares of Ring Energy from $6.00 to $4.00 and set an “outperform” rating for the company in a research note on Thursday, August 22nd. Zacks Investment Research cut shares of Ring Energy from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Johnson Rice assumed coverage on shares of Ring Energy in a research note on Tuesday, May 28th. They issued a “buy” rating for the company. Finally, LADENBURG THALM/SH SH cut shares of Ring Energy from a “buy” rating to a “neutral” rating and decreased their target price for the company from $5.00 to $3.00 in a research note on Monday, August 26th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target 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.
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