Ring Energy (NYSEAMERICAN:REI) Shares Up 0.2% – Still a Buy?

Ring Energy, Inc. (NYSEAMERICAN:REI) shares shot up 0.2% during trading on Monday . The company traded as high as $0.9550 and last traded at $0.9073. 2,708,615 shares were traded during trading, an increase of 167% from the average session volume of 1,013,022 shares. The stock had previously closed at $0.9056.

Ring Energy Stock Up 0.2%

The firm’s 50-day simple moving average is $0.92 and its 200 day simple moving average is $0.92. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.50 and a current ratio of 0.55. The company has a market cap of $188.01 million, a P/E ratio of -12.96 and a beta of 0.85.

Ring Energy (NYSEAMERICAN:REI) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $78.60 million during the quarter, compared to the consensus estimate of $83.20 million. Ring Energy had a positive return on equity of 6.07% and a negative net margin of 5.01%. On average, research analysts forecast that Ring Energy, Inc. will post 0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ring Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC raised its stake in Ring Energy by 32.8% during the 3rd 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 during the period. Vanguard Group Inc. lifted its holdings in shares of Ring Energy by 18.0% during the 3rd quarter. Vanguard Group Inc. now owns 10,613,683 shares of the company’s stock valued at $11,569,000 after purchasing an additional 1,617,668 shares in the last quarter. Two Sigma Investments LP grew its position in shares of Ring Energy by 342.4% in the 3rd quarter. Two Sigma Investments LP now owns 1,849,178 shares of the company’s stock valued at $2,016,000 after purchasing an additional 1,431,162 shares during the period. Ameriprise Financial Inc. raised its holdings in Ring Energy by 22.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,051,151 shares of the company’s stock worth $4,805,000 after buying an additional 1,109,514 shares during the period. Finally, AQR Capital Management LLC lifted its stake in Ring Energy by 28.6% in the first quarter. AQR Capital Management LLC now owns 3,350,472 shares of the company’s stock valued at $3,853,000 after buying an additional 744,284 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.