William R. Kruse Buys 507,214 Shares of Ring Energy, Inc. (NYSEAMERICAN:REI) Stock

Ring Energy, Inc. (NYSEAMERICAN:REI – Get Rating) major shareholder William R. Kruse purchased 507,214 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was acquired at an average cost of $2.67 per share, with a total value of $1,354,261.38. Following the transaction, the insider now directly owns 13,446,948 shares in the company, valued at $35,903,351.16. The purchase was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Ring Energy Stock Down 3.0 %

Ring Energy stock opened at $2.59 on Friday. The firm has a market cap of $276.36 million, a PE ratio of -86.30 and a beta of 2.13. Ring Energy, Inc. has a 12-month low of $1.81 and a 12-month high of $5.09. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.39 and a quick ratio of 0.39.

Ring Energy (NYSEAMERICAN:REI – Get Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. Ring Energy had a net margin of 1.69% and a return on equity of 10.23%. The firm had revenue of $68.18 million for the quarter, compared to analyst estimates of $54.10 million. On average, equities research analysts expect that Ring Energy, Inc. will post 0.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Roth Capital cut shares of Ring Energy from a “buy” rating to a “neutral” rating in a research report on Monday.

Institutional Investors Weigh In On Ring Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS Group AG raised its stake in Ring Energy by 252.1% during the 1st quarter. UBS Group AG now owns 9,292 shares of the company’s stock worth $36,000 after acquiring an additional 6,653 shares in the last quarter. Barry Investment Advisors LLC acquired a new position in Ring Energy in the first quarter valued at $38,000. Harvest Investment Services LLC acquired a new position in Ring Energy in the second quarter valued at $26,000. FNY Investment Advisers LLC acquired a new position in Ring Energy in the first quarter valued at $54,000. Finally, Diversified Trust Co acquired a new position in Ring Energy in the second quarter valued at $43,000. 29.20% of the stock is currently owned by institutional investors and hedge funds.

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.