Ring Energy (NYSEAMERICAN:REI) Stock Price Up 0.2% – Time to Buy?

Ring Energy, Inc. (NYSEAMERICAN:REI)’s stock price rose 0.2% during trading on Monday . The company traded as high as $0.9550 and last traded at $0.9073. Approximately 2,708,615 shares changed hands during trading, an increase of 167% from the average daily volume of 1,013,022 shares. The stock had previously closed at $0.9056.

Ring Energy Stock Up 0.2%

The firm has a market capitalization of $188.01 million, a P/E ratio of -12.96 and a beta of 0.85. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.50 and a current ratio of 0.55. The firm’s 50-day moving average is $0.92 and its 200 day moving average is $0.92.

Ring Energy (NYSEAMERICAN:REI) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. The firm had revenue of $78.60 million for the quarter, compared to the consensus estimate of $83.20 million. Ring Energy had a positive return on equity of 6.07% and a negative net margin of 5.01%. As a group, equities research analysts predict that Ring Energy, Inc. will post 0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Ring Energy

Several hedge funds have recently made changes to their positions in the business. Valeo Financial Advisors LLC acquired a new stake in shares of Ring Energy in the second quarter valued at approximately $25,000. Centiva Capital LP bought a new position in Ring Energy in the third quarter valued at $26,000. Barry Investment Advisors LLC increased its stake in Ring Energy by 150.0% in the 3rd quarter. Barry Investment Advisors LLC now owns 25,000 shares of the company’s stock valued at $27,000 after buying an additional 15,000 shares during the last quarter. Abel Hall LLC bought a new stake in Ring Energy during the 2nd quarter worth about $28,000. Finally, Wealthcare Advisory Partners LLC acquired a new position in shares of Ring Energy during the 3rd quarter worth about $31,000. 77.14% of the stock is owned by institutional investors.

About Ring Energy

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.