Traders Buy Large Volume of Call Options on Ring Energy (NYSEAMERICAN:REI)

Ring Energy, Inc. (NYSEAMERICAN:REI) was the recipient of some unusual options trading on Wednesday. Investors acquired 5,435 call options on the stock. This is an increase of 83% compared to the typical volume of 2,962 call options.

Ring Energy Price Performance

Shares of Ring Energy stock opened at $1.00 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.55 and a quick ratio of 0.50. The company has a market cap of $207.22 million, a PE ratio of -14.28 and a beta of 0.85. The firm has a fifty day moving average price of $0.91 and a two-hundred day moving average price of $0.93. Ring Energy has a fifty-two week low of $0.72 and a fifty-two week high of $1.45.

Ring Energy (NYSEAMERICAN:REI) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. Ring Energy had a negative net margin of 5.01% and a positive return on equity of 6.07%. The company had revenue of $78.60 million for the quarter, compared to the consensus estimate of $83.20 million. Analysts expect that Ring Energy will post 0.33 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Ring Energy to a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2.50.

Institutional Trading of Ring Energy

Hedge funds have recently modified their holdings of the company. Yale University bought a new stake in shares of Ring Energy during the third quarter valued at approximately $13,807,000. Founders Capital Management increased its holdings in Ring Energy by 29.4% in the 3rd quarter. Founders Capital Management now owns 57,200 shares of the company’s stock valued at $62,000 after buying an additional 13,000 shares during the period. Van Den Berg Management I Inc. raised its stake in shares of Ring Energy by 39.9% in the 3rd quarter. Van Den Berg Management I Inc. now owns 50,884 shares of the company’s stock valued at $55,000 after buying an additional 14,523 shares in the last quarter. Barry Investment Advisors LLC raised its stake in shares of 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 in the last quarter. Finally, CWM LLC lifted its holdings in shares of Ring Energy by 61.3% during the 2nd quarter. CWM LLC now owns 44,809 shares of the company’s stock worth $36,000 after acquiring an additional 17,036 shares during the period. Institutional investors own 77.14% of the company’s stock.

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.