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

Ring Energy, Inc. (NYSEAMERICAN:REI) was the recipient of some unusual options trading on Tuesday. Stock traders acquired 10,025 call options on the stock. This is an increase of approximately 427% compared to the typical daily volume of 1,901 call options.

Insider Activity

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in REI. PEAK6 LLC bought a new stake in Ring Energy during the second quarter worth approximately $18,446,000. BlackRock Inc. purchased a new stake in Ring Energy during the 2nd quarter valued at $13,053,000. Vanguard Group Inc. lifted its stake in Ring Energy by 18.0% in the third quarter. Vanguard Group Inc. now owns 10,613,683 shares of the company’s stock worth $11,569,000 after purchasing an additional 1,617,668 shares during the last quarter. Barclays PLC raised its stake in Ring Energy by 32.8% in the third quarter. Barclays PLC now owns 8,000,090 shares of the company’s stock worth $8,720,000 after buying an additional 1,975,000 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Ring Energy by 22.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,051,151 shares of the company’s stock worth $4,805,000 after acquiring an additional 1,109,514 shares in the last quarter. Institutional investors own 77.14% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on REI shares. Bank of America started coverage on Ring Energy in a report on Wednesday, July 15th. They set a “buy” rating and a $2.00 price objective on the stock. 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ring Energy presently has an average rating of “Moderate Buy” and a consensus price target of $2.00.

Ring Energy Trading Up 0.4%

REI stock traded up $0.01 during trading on Tuesday, reaching $1.41. The company had a trading volume of 1,561,671 shares, compared to its average volume of 4,910,778. The business has a 50 day moving average of $1.20 and a 200 day moving average of $1.34. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.54 and a quick ratio of 0.49. The company has a market cap of $366.03 million, a P/E ratio of -1.28, a PEG ratio of 0.29 and a beta of 0.79. Ring Energy has a 52 week low of $0.83 and a 52 week high of $2.00.

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

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.