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

Ring Energy, Inc. (NYSEAMERICAN:REI) was the target of unusually large options trading activity on Thursday. Stock investors bought 15,103 call options on the company. This is an increase of approximately 835% compared to the typical daily volume of 1,615 call options.

Ring Energy Stock Up 1.9%

NYSEAMERICAN REI traded up $0.03 during trading hours on Thursday, hitting $1.35. 1,331,991 shares of the company were exchanged, compared to its average volume of 4,646,979. Ring Energy has a 52-week low of $0.83 and a 52-week high of $2.00. The company has a 50 day moving average of $1.40 and a two-hundred day moving average of $1.36. The company has a quick ratio of 0.49, a current ratio of 0.54 and a debt-to-equity ratio of 0.48. The firm has a market cap of $353.00 million, a price-to-earnings ratio of -1.23, a PEG ratio of 0.29 and a beta of 0.98.

Ring Energy (NYSEAMERICAN:REI) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The company had revenue of $104.68 million for the quarter, compared to the consensus estimate of $93.29 million. Ring Energy had a negative net margin of 68.02% and a positive return on equity of 5.55%. Equities research analysts anticipate that Ring Energy will post 0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on REI shares. Mizuho began coverage on Ring Energy in a research note on Wednesday, September 2nd. They issued a “neutral” rating and a $2.00 price target for the company. Zacks Research downgraded shares of Ring Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, June 26th. Finally, Bank of America initiated coverage on shares of Ring Energy in a report on Wednesday, July 15th. They issued a “buy” rating and a $2.00 price objective for the company. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $2.00.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. DGS Capital Management LLC boosted its stake in 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. Sigma Planning Corp acquired a new stake in Ring Energy in the first quarter valued at $39,000. Barry Investment Advisors LLC boosted its holdings in Ring Energy by 100.0% during the first 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. The Manufacturers Life Insurance Company purchased a new stake in Ring Energy during the second quarter worth about $65,000. Finally, Amundi acquired a new position in Ring Energy during the second quarter worth about $67,000. Institutional investors and hedge funds own 77.14% of the company’s stock.

About Ring Energy

Ring Energy, Inc is an independent oil and gas exploration and production company headquartered in Midland, Texas. The company focuses on the acquisition, development, and operation of oil and natural gas properties, with an emphasis on producing assets and opportunities to expand reserves through development and strategic acquisitions.

Ring Energy’s operations are concentrated in the Permian Basin, primarily in the Northwest Shelf region of West Texas and southeastern New Mexico. Its activities include drilling, completing, and operating oil and natural gas wells, as well as managing the associated gathering, processing, and transportation requirements for its production.

Founded in 2004, Ring Energy has grown through a combination of drilling programs and acquisitions of properties in the Permian Basin.