Ring Energy Sees Unusually Large Options Volume (NYSEAMERICAN:REI)

Ring Energy, Inc. (NYSEAMERICAN:REI) was the recipient of some unusual options trading on Monday. Investors purchased 10,269 call options on the company. This is an increase of 1,045% compared to the average daily volume of 897 call options.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Ring Energy from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th.

Ring Energy Trading Up 2.4 %

Shares of Ring Energy stock opened at $1.69 on Wednesday. The stock has a market cap of $334.91 million, a PE ratio of 4.23 and a beta of 1.63. Ring Energy has a 52-week low of $1.25 and a 52-week high of $2.20. The company has a current ratio of 0.50, a quick ratio of 0.45 and a debt-to-equity ratio of 0.50.

Ring Energy (NYSEAMERICAN:REI) last released its earnings results on Tuesday, August 6th. The company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. Ring Energy had a return on equity of 10.94% and a net margin of 18.41%. The company had revenue of $99.14 million for the quarter, compared to analysts’ expectations of $98.29 million. Equities analysts expect that Ring Energy will post 0.43 EPS for the current year.

Insider Activity at Ring Energy

In other Ring Energy news, major shareholder Warburg Pincus & Co Us, Llc sold 6,200,000 shares of Ring Energy stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $1.64, for a total transaction of $10,168,000.00. Following the transaction, the insider now owns 39,920,643 shares of the company’s stock, valued at $65,469,854.52. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Ring Energy

Large investors have recently made changes to their positions in the stock. Delap Wealth Advisory LLC purchased a new stake in shares of Ring Energy in the 1st quarter worth about $27,000. Choreo LLC acquired a new stake in shares of Ring Energy in the first quarter valued at approximately $29,000. Caprock Group LLC acquired a new stake in shares of Ring Energy in the first quarter valued at approximately $30,000. CreativeOne Wealth LLC purchased a new position in shares of Ring Energy during the 1st quarter worth approximately $31,000. Finally, Walleye Trading LLC raised its position in shares of Ring Energy by 255.9% during the 1st quarter. Walleye Trading LLC now owns 16,213 shares of the company’s stock worth $32,000 after purchasing an additional 26,613 shares during the last quarter. Hedge funds and other institutional investors own 77.14% of the company’s stock.

About Ring Energy

Ring Energy, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties. The company has interests in 56,711 net developed acres and 2,668 net undeveloped acres in Andrews, Gaines, Crane, Ector, Winkler, and Ward counties, Texas; and 8,751 net developed acres and 12,405 net undeveloped acres in Yoakum County, Texas and Lea County, New Mexico.