Insider Selling: Ring Energy Inc (NYSEAMERICAN:REI) CFO Sells 75,000 Shares of Stock

Ring Energy Inc (NYSEAMERICAN:REI) CFO William Randall Broaddrick sold 75,000 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $14.02, for a total transaction of $1,051,500.00. Following the sale, the chief financial officer now directly owns 50,000 shares in the company, valued at $701,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Ring Energy Inc (NYSEAMERICAN REI) opened at $15.70 on Friday. The firm has a market cap of $850.31, a price-to-earnings ratio of 142.73 and a beta of 0.79. Ring Energy Inc has a 12-month low of $9.22 and a 12-month high of $15.92.

A hedge fund recently raised its stake in Ring Energy stock. Dalton Greiner Hartman Maher & Co. boosted its holdings in Ring Energy Inc (NYSEAMERICAN:REI) by 44.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 242,973 shares of the company’s stock after purchasing an additional 75,194 shares during the quarter. Dalton Greiner Hartman Maher & Co. owned 0.45% of Ring Energy worth $3,377,000 at the end of the most recent reporting period.

REI has been the topic of a number of research reports. KLR Group initiated coverage on shares of Ring Energy in a research report on Thursday, December 21st. They set a “buy” rating and a $20.00 target price on the stock. Northland Securities set a $18.00 target price on shares of Ring Energy and gave the stock a “buy” rating in a research report on Monday, December 11th. SunTrust Banks reiterated a “buy” rating and set a $19.00 target price on shares of Ring Energy in a research report on Friday, November 10th. Roth Capital set a $20.00 price objective on shares of Ring Energy and gave the company a “buy” rating in a report on Friday, October 6th. Finally, Zacks Investment Research lowered shares of Ring Energy from a “strong-buy” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $18.29.

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Ring Energy Company Profile

Ring Energy, Inc (Ring) is an exploration and production company that is engaged in oil and natural gas acquisition, exploration, development and production activities. The Company’s exploration and production interests are focused on Texas and Kansas. Its operations are all oil and gas exploration and production related activities in the United States.

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