Ring Energy, Inc. (NYSEAMERICAN:REI – Get a rating) major shareholder William R. Kruse bought 507,214 shares of Ring Energy in a transaction on Monday, August 1. The shares were acquired at an average cost of $2.67 per share, for a total transaction of $1,354,261.38. Following the acquisition, the insider now directly owns 13,446,948 shares of the company, valued at $35,903,351.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC website. Large shareholders who own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Ring Energy Price Performance
NYSEAMERICAN:REI opened at $2.59 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt ratio of 0.97. The company has a market capitalization of $276.36 million, a PE ratio of -86.30 and a beta of 2.13. Ring Energy, Inc. has a 1-year low of $1.81 and a 1-year high of $5.09.
Energy Ring (NYSEAMERICAN:REI – Get a rating) last released its quarterly earnings data on Tuesday, May 10. The company reported earnings per share of $0.21 for the quarter, beating consensus analyst estimates of $0.17 by $0.04. The company posted revenue of $68.18 million in the quarter, versus analyst estimates of $54.10 million. Ring Energy posted a net margin of 1.69% and a return on equity of 10.23%. As a group, research analysts expect Ring Energy, Inc. to post EPS of 0.61 for the current year.
Hedge funds weigh on Ring Energy
Institutional investors have recently changed their stake in the company. UBS Group AG increased its position in Ring Energy by 252.1% during the first quarter. UBS Group AG now owns 9,292 shares of the company worth $36,000 after purchasing an additional 6,653 shares in the last quarter. Barry Investment Advisors LLC acquired a new position in Ring Energy during the first quarter worth approximately $38,000. Harvest Investment Services LLC acquired a new position in Ring Energy during the second quarter worth approximately $26,000. FNY Investment Advisers LLC acquired a new position in Ring Energy during the first quarter worth approximately $54,000. Finally, Diversified Trust Co acquired a new position in Ring Energy during the second quarter worth approximately $43,000. Institutional investors and hedge funds hold 29.20% of the company’s shares.
Analysts set new price targets
Separately, Roth Capital downgraded shares of Ring Energy from a “buy” rating to a “neutral” rating in a report on Monday.
Ring Energy Company Profile
Ring Energy, Inc, an exploration and production company, is engaged 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 proven reserves consisted of approximately 77.8 million barrels of oil equivalent. It also held 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.
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