The CEO of Ring Energy (NYSE MKT: REI) is Buying Shares

By Carrie Williams

Yesterday, the CEO of Ring Energy (REIResearch Report), Kelly Hoffman, bought shares of REI for $21K.

This recent transaction increases Kelly Hoffman’s holding in the company by 66.53% to a total of $62.33K.

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Based on Ring Energy’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $51.33 million and quarterly net profit of $12.38 million. In comparison, last year the company earned revenue of $29.92 million and had a net profit of $4.72 million. The company has a one-year high of $11.80 and a one-year low of $1.23. Currently, Ring Energy has an average volume of 769.47K.

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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. The firm’s areas of operation situated in the Permian Basin; the Central Basin Platform and the Delaware Basin.