A Director at Ring Energy (REI) is Buying Shares


Today, a Director at Ring Energy (NYSE: REI), Anthony Benedict Petrelli, bought shares of REI for $100K.

This recent transaction increases Anthony Benedict Petrelli’s holding in the company by 125% to a total of $732.6K. In addition to Anthony Benedict Petrelli, 5 other REI executives reported Buy trades in the last month.

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Based on Ring Energy’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $29.92 million and quarterly net profit of $4.72 million. In comparison, last year the company earned revenue of $16.64 million and had a net profit of $3.07 million. REI’s market cap is $491.6M and the company has a P/E ratio of 53.70. Currently, Ring Energy has an average volume of 494K.

Starting in December 2017, REI received 16 Buy ratings in a row.

In the last 30 days, insiders have sold $3.78M worth of REI shares and purchased $320K worth of REI shares. The insider sentiment on Ring Energy has been negative according to 25 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Ring Energy, Inc. is an oil and gas exploration company which engages in oil and natural gas acquisition, exploration, development and production activities in the Permian and Mid-Continent regions of the United States. The company was founded by Lloyd T. Rochford and Stanley M. McCabe on July 30, 2004 and is headquartered in Midland, TX.

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