Ring Energy Inc (NYSE:REI), saw an insider raise his profile with the company. Chief Financial Officer Randall William Broaddrick bought a total of 50,000 shares of common stock at a range of $2 to $4.5 per share.
Following this transaction, Broaddrick now has 100,000 shares directly invested in Ring Energy Inc (NYSE:REI), a $430.49 million market cap corporation is a development stage Crude Petroleum and Natural Gas company with large amounts of property in Texas. Broaddrick is not the only insider to make this sort of move as President David A. Fowler increased his holdings by 6,000 shares two weeks ago.
In addition, there is one hedge fund with a substantial amount of involvement with Ring Energy Inc (NYSE:REI). Royce & Associates, the hedge fund run by Chuck Royce, reported a decrease in it’s activity with the natural gas and petroleum company by 15% last quarter, and now has 170,000 shares worth approximately $2.6 million invested in the company.
Disclosure: The author, Daniel Forstein, holds no positions in any stocks mentioned.
