Today, a Director at Ring Energy (NYSE: REI), Stanley Myron Mccabe, sold shares of REI for $1.12M.
This is Mccabe’s first Sell trade following 4 Buy transactions. Following Stanley Myron Mccabe’s last REI Sell transaction on December 01, 2014, the stock climbed by 3.4%.
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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 $14.5 million and had a net profit of $1.91 million. REI’s market cap is $676.9M and the company has a P/E ratio of 71.49. Currently, Ring Energy has an average volume of 406.7K.
The insider sentiment on Ring Energy has been negative according to 21 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.
