Investors Buy High Volume of Call Options on Ring Energy (NYSEAMERICAN:REI)

Ring Energy, Inc. (NYSEAMERICAN:REIGet Free Report) was the recipient of unusually large options trading on Tuesday. Traders acquired 10,351 call options on the stock. This represents an increase of 417% compared to the typical volume of 2,001 call options.

Wall Street Analyst Weigh In

Several analysts have issued reports on REI shares. Mizuho began coverage on Ring Energy in a research note on Wednesday, September 2nd. They issued a “neutral” rating and a $2.00 price target on the stock. Zacks Research cut Ring Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 26th. Finally, Bank of America began coverage on shares of Ring Energy in a research note on Wednesday, July 15th. They set a “buy” rating and a $2.00 price target for the company. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Ring Energy currently has an average rating of “Hold” and a consensus price target of $2.00.

Read Our Latest Research Report on REI

Insider Activity at Ring Energy

In related news, CEO Paul D. Mckinney acquired 50,000 shares of the stock in a transaction dated Monday, June 15th. The stock was bought at an average price of $1.19 per share, with a total value of $59,500.00. Following the completion of the transaction, the chief executive officer directly owned 4,158,463 shares of the company’s stock, valued at approximately $4,948,570.97. The trade was a 1.22% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sundip Singh Johl acquired 231,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were bought at an average price of $1.21 per share, for a total transaction of $279,510.00. Following the completion of the acquisition, the executive vice president owned 548,460 shares of the company’s stock, valued at $663,636.60. This trade represents a 72.77% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ring Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Centiva Capital LP bought a new position in Ring Energy in the third quarter worth approximately $26,000. Sigma Planning Corp bought a new stake in shares of Ring Energy in the 1st quarter worth approximately $39,000. Barry Investment Advisors LLC lifted its stake in Ring Energy by 100.0% in the first quarter. Barry Investment Advisors LLC now owns 30,000 shares of the company’s stock valued at $46,000 after purchasing an additional 15,000 shares during the last quarter. DGS Capital Management LLC grew its holdings in Ring Energy by 65.4% during the fourth quarter. DGS Capital Management LLC now owns 31,196 shares of the company’s stock valued at $27,000 after purchasing an additional 12,331 shares during the period. Finally, HRT Financial LP bought a new position in shares of Ring Energy during the 4th quarter worth $31,000. Institutional investors and hedge funds own 77.14% of the company’s stock.

Ring Energy Stock Up 1.7%

Shares of NYSEAMERICAN:REI traded up $0.03 during midday trading on Tuesday, reaching $1.52. The company had a trading volume of 2,128,821 shares, compared to its average volume of 4,774,432. Ring Energy has a 1-year low of $0.83 and a 1-year high of $2.00. The stock has a market cap of $397.29 million, a PE ratio of -1.39, a P/E/G ratio of 0.32 and a beta of 0.83. The company has a quick ratio of 0.49, a current ratio of 0.54 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average price is $1.30 and its 200 day moving average price is $1.37.

Ring Energy (NYSEAMERICAN:REIGet Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The firm had revenue of $104.68 million during the quarter, compared to the consensus estimate of $93.29 million. Ring Energy had a positive return on equity of 5.55% and a negative net margin of 68.02%. Research analysts forecast that Ring Energy will post 0.11 EPS for the current fiscal year.

About Ring Energy

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Ring Energy, Inc is an independent oil and natural gas exploration and production company focused on the development, acquisition and operation of upstream assets in the United States. Headquartered in Odessa, Texas, the company concentrates its activities on onshore hydrocarbon plays, where it seeks to optimize production through technical innovation, cost management and disciplined capital allocation. Ring Energy trades on the NYSE American under the ticker symbol REI.

The company’s core operations are centered in the Permian Basin, one of North America’s most prolific oil-producing regions.

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