Kelly W. Hoffman Sells 90,375 Shares of Ring Energy Inc (NYSEAMERICAN:REI) Stock
Ring Energy Inc (NYSEAMERICAN:REI) CEO Kelly W. Hoffman sold 90,375 shares of the business’s stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $11.31, for a total transaction of $1,022,141.25. Following the sale, the chief executive officer now directly owns 117,546 shares in the company, valued at $1,329,445.26. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of REI stock traded up $0.14 on Friday, reaching $8.14. The stock had a trading volume of 552,441 shares, compared to its average volume of 729,278. Ring Energy Inc has a 12 month low of $7.56 and a 12 month high of $17.35.
Ring Energy (NYSEAMERICAN:REI) last issued its earnings results on Wednesday, August 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.04). Ring Energy had a net margin of 18.47% and a return on equity of 3.75%. The firm had revenue of $29.93 million during the quarter, compared to the consensus estimate of $30.05 million.
Several equities research analysts have commented on REI shares. Zacks Investment Research cut shares of Ring Energy from a “hold” rating to a “sell” rating in a research report on Thursday, September 20th. Imperial Capital set a $15.00 target price on shares of Ring Energy and gave the company an “outperform” rating in a report on Thursday, October 4th. Finally, Seaport Global Securities cut shares of Ring Energy from a “buy” rating to a “neutral” rating and dropped their target price for the company from $20.00 to $12.00 in a report on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $17.89.
Ring Energy Company Profile
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, 2017, the company's proved reserves consisted of approximately 31.9 million barrel of oil equivalent. As of the above date, it also had interests in 8,102 net developed acres and 61,772 net undeveloped acres in Andrews and Gaines counties; and 10,235 net developed acres and 9,682 net undeveloped acres in Culberson and Reeves counties.
See Also: How Do You Make Money With Penny Stocks?
Receive News & Ratings for Ring Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ring Energy and related companies with MarketBeat.com's FREE daily email newsletter.