Ring Energy (NYSEAMERICAN:REI) Trading 6.7% Higher – Time to Buy?

Shares of Ring Energy, Inc. (NYSEAMERICAN:REI) were up 6.7% on Tuesday . The stock traded as high as $1.12 and last traded at $1.11. 7,550,657 shares changed hands during trading, an increase of 30% from the average daily volume of 5,824,580 shares. The stock had previously closed at $1.04.

Analyst Upgrades and Downgrades

Separately, Zacks Research cut shares of Ring Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Ring Energy has an average rating of “Moderate Buy” and a consensus target price of $2.50.

Ring Energy Trading Down 1.8%

The company has a debt-to-equity ratio of 0.69, a current ratio of 0.40 and a quick ratio of 0.36. The company has a market capitalization of $234.54 million, a price-to-earnings ratio of -0.88 and a beta of 0.80. The business’s 50-day moving average price is $1.32 and its two-hundred day moving average price is $1.28.

Ring Energy (NYSEAMERICAN:REI) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $73.67 million for the quarter, compared to the consensus estimate of $69.90 million. Ring Energy had a positive return on equity of 5.10% and a negative net margin of 87.63%. Research analysts predict that Ring Energy, Inc. will post 0.25 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Paul D. Mckinney acquired 50,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was acquired 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 $4,948,570.97. This trade represents a 1.22% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sundip Singh Johl acquired 231,000 shares of Ring Energy stock in a transaction on Monday, June 15th. The shares were purchased at an average price of $1.21 per share, for a total transaction of $279,510.00. Following the completion of the purchase, the executive vice president directly owned 548,460 shares of the company’s stock, valued at approximately $663,636.60. This represents a 72.77% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 3.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. DGS Capital Management LLC raised its stake 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 purchasing an additional 12,331 shares during the period. Yale University bought a new position in Ring Energy during the third quarter valued at about $13,807,000. Founders Capital Management grew its position in Ring Energy by 29.4% during the third 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. increased its holdings in Ring Energy by 39.9% during the third quarter. Van Den Berg Management I Inc. now owns 50,884 shares of the company’s stock worth $55,000 after buying an additional 14,523 shares during the last quarter. Finally, Barry Investment Advisors LLC raised its position in Ring Energy by 100.0% in the first quarter. Barry Investment Advisors LLC now owns 30,000 shares of the company’s stock worth $46,000 after acquiring an additional 15,000 shares during the period. Institutional investors own 77.14% of the company’s stock.

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.