Ring Energy Target of Unusually High Options Trading (NYSEAMERICAN:REI)

Ring Energy, Inc. (NYSEAMERICAN:REI) was the target of unusually large options trading activity on Wednesday. Stock traders bought 49,564 call options on the company. This is an increase of 1,725% compared to the typical daily volume of 2,716 call options.

Ring Energy Stock Performance

NYSEAMERICAN:REI traded up $0.17 during mid-day trading on Wednesday, reaching $1.85. 8,137,474 shares of the company’s stock were exchanged, compared to its average volume of 4,485,702. Ring Energy has a one year low of $0.72 and a one year high of $1.86. The firm has a market capitalization of $386.34 million, a PE ratio of -11.53 and a beta of 0.77. The business’s fifty day simple moving average is $1.45 and its two-hundred day simple moving average is $1.15. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.56 and a current ratio of 0.61.

Ring Energy (NYSEAMERICAN:REI) last released its earnings results on Wednesday, March 4th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Ring Energy had a negative net margin of 11.31% and a positive return on equity of 5.13%. The firm had revenue of $66.88 million during the quarter, compared to the consensus estimate of $71.35 million. Analysts anticipate that Ring Energy will post 0.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised shares of Ring Energy to a “hold” rating in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2.50.

Hedge Funds Weigh In On Ring Energy

Several hedge funds have recently bought and sold shares of the company. R Squared Ltd increased its holdings in Ring Energy by 106.5% in the 1st quarter. R Squared Ltd now owns 51,950 shares of the company’s stock valued at $79,000 after buying an additional 26,798 shares during the period. Barry Investment Advisors LLC raised its holdings in shares of Ring Energy by 100.0% during the 1st quarter. Barry Investment Advisors LLC now owns 30,000 shares of the company’s stock worth $46,000 after buying an additional 15,000 shares in the last quarter. Ritholtz Wealth Management acquired a new position in shares of Ring Energy during the 1st quarter worth $248,000. DGS Capital Management LLC raised its holdings in shares of Ring Energy by 65.4% during the 4th quarter. DGS Capital Management LLC now owns 31,196 shares of the company’s stock worth $27,000 after buying an additional 12,331 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Ring Energy by 10.8% during the 4th quarter. Empowered Funds LLC now owns 1,063,546 shares of the company’s stock worth $925,000 after buying an additional 103,755 shares in the last quarter. 77.14% of the stock is owned by institutional investors.

Ring Energy Company Profile

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.