John A. Crum Buys 50,000 Shares of Ring Energy, Inc. (NYSEAMERICAN:REI) Stock

Ring Energy, Inc. (NYSEAMERICAN:REI) Director John A. Crum acquired 50,000 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was purchased at an average price of $1.15 per share, with a total value of $57,500.00. Following the completion of the acquisition, the director now directly owns 564,125 shares in the company, valued at approximately $648,743.75. This represents a 9.73 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Ring Energy Price Performance

REI stock opened at $0.94 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.49 and a debt-to-equity ratio of 0.46. Ring Energy, Inc. has a 1 year low of $0.90 and a 1 year high of $2.20. The business has a 50-day moving average of $1.27. The company has a market capitalization of $186.19 million, a P/E ratio of 1.65 and a beta of 1.55.

Hedge Funds Weigh In On Ring Energy

Several large investors have recently made changes to their positions in the business. Ameriprise Financial Inc. lifted its position in Ring Energy by 1.0% in the 4th quarter. Ameriprise Financial Inc. now owns 5,332,208 shares of the company’s stock valued at $7,252,000 after acquiring an additional 51,577 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Ring Energy by 4,564.9% in the third quarter. JPMorgan Chase & Co. now owns 3,086,251 shares of the company’s stock worth $4,938,000 after purchasing an additional 3,020,092 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Ring Energy by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 3,060,543 shares of the company’s stock valued at $4,163,000 after purchasing an additional 89,614 shares in the last quarter. State Street Corp boosted its position in shares of Ring Energy by 0.6% during the third quarter. State Street Corp now owns 2,398,808 shares of the company’s stock valued at $3,838,000 after buying an additional 13,495 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in Ring Energy by 358.0% in the 4th quarter. Millennium Management LLC now owns 1,082,632 shares of the company’s stock worth $1,472,000 after buying an additional 846,241 shares in the last quarter. 77.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

REI has been the topic of several analyst reports. Industrial Alliance Securities set a $2.50 price objective on Ring Energy in a report on Friday, March 7th. Alliance Global Partners reiterated a “buy” rating on shares of Ring Energy in a research report on Friday, March 7th.

About Ring Energy

Ring Energy, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties. The company has interests in 56,711 net developed acres and 2,668 net undeveloped acres in Andrews, Gaines, Crane, Ector, Winkler, and Ward counties, Texas; and 8,751 net developed acres and 12,405 net undeveloped acres in Yoakum County, Texas and Lea County, New Mexico.