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

Ring Energy, Inc. (NYSEAMERICAN:REIGet Rating) saw unusually large options trading on Tuesday. Stock traders bought 10,439 call options on the stock. This is an increase of approximately 243% compared to the average volume of 3,046 call options.

Analysts Set New Price Targets

Separately, Roth Capital downgraded Ring Energy from a “buy” rating to a “neutral” rating in a research note on Monday, August 1st.

Insiders Place Their Bets

In other news, major shareholder William R. Kruse purchased 507,214 shares of the business’s stock in a transaction on Monday, August 1st. The shares were bought at an average price of $2.67 per share, with a total value of $1,354,261.38. Following the completion of the transaction, the insider now directly owns 13,446,948 shares in the company, valued at approximately $35,903,351.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Ring Energy

Institutional investors have recently modified their holdings of the business. State Street Corp boosted its position in Ring Energy by 273.2% during the second quarter. State Street Corp now owns 1,310,988 shares of the company’s stock worth $3,487,000 after purchasing an additional 959,696 shares in the last quarter. Renaissance Technologies LLC boosted its position in Ring Energy by 151.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,320,800 shares of the company’s stock worth $3,011,000 after purchasing an additional 796,100 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Ring Energy by 267.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,016,090 shares of the company’s stock worth $3,881,000 after purchasing an additional 739,486 shares in the last quarter. HighTower Advisors LLC purchased a new stake in Ring Energy during the fourth quarter worth $1,324,000. Finally, Northern Trust Corp boosted its position in Ring Energy by 323.6% during the second quarter. Northern Trust Corp now owns 739,498 shares of the company’s stock worth $1,967,000 after purchasing an additional 564,909 shares in the last quarter. 29.20% of the stock is currently owned by hedge funds and other institutional investors.

Ring Energy Trading Down 7.1 %

Shares of REI stock opened at $2.62 on Wednesday. Ring Energy has a twelve month low of $2.02 and a twelve month high of $5.09. The company has a market capitalization of $342.12 million, a price-to-earnings ratio of -87.30 and a beta of 2.13. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.97.

Ring Energy (NYSEAMERICAN:REIGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. Ring Energy had a return on equity of 10.23% and a net margin of 1.69%. The firm had revenue of $84.96 million for the quarter, compared to the consensus estimate of $63.96 million. On average, research analysts predict that Ring Energy will post 0.61 earnings per share for the current year.

Ring Energy Company Profile

(Get Rating)

Ring Energy, Inc, an exploration and production company, engages in the acquisition, exploration, development, and production of oil and natural gas in Texas and New Mexico. As of December 31, 2021, the company's proved reserves consisted of approximately 77.8 million barrel of oil equivalent. It also had interests in 18,882 net developed acres and 1,406 net undeveloped acres in Andrews and Gaines counties, Texas; 18,437 net developed acres in Culberson and Reeves counties, Texas; and 13,662 net developed acres and 11,993 net undeveloped acres in Yoakum, Runnels, and Coke Counties, Texas and Lea County, New Mexico.

Further Reading

Receive News & Ratings for Ring Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ring Energy and related companies with MarketBeat.com's FREE daily email newsletter.