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

Ring Energy, Inc. (NYSEAMERICAN:REI) was the recipient of some unusual options trading on Tuesday. Investors purchased 10,281 call options on the stock. This represents an increase of 914% compared to the typical volume of 1,014 call options.

Institutional Investors Weigh In On Ring Energy

A number of hedge funds have recently bought and sold shares of REI. JPMorgan Chase & Co. grew its stake in Ring Energy by 4,564.9% in the third quarter. JPMorgan Chase & Co. now owns 3,086,251 shares of the company’s stock worth $4,938,000 after purchasing an additional 3,020,092 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Ring Energy by 34.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,970,929 shares of the company’s stock worth $4,754,000 after acquiring an additional 763,907 shares in the last quarter. American Century Companies Inc. grew its position in shares of Ring Energy by 42.6% in the 2nd quarter. American Century Companies Inc. now owns 1,967,501 shares of the company’s stock worth $3,325,000 after acquiring an additional 587,690 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Ring Energy by 50.4% in the 2nd quarter. Renaissance Technologies LLC now owns 787,600 shares of the company’s stock worth $1,331,000 after acquiring an additional 264,010 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Ring Energy by 2,244.6% in the third quarter. Franklin Resources Inc. now owns 235,168 shares of the company’s stock worth $381,000 after purchasing an additional 225,138 shares during the period. Institutional investors and hedge funds own 77.14% of the company’s stock.

Ring Energy Stock Down 4.7 %

Shares of NYSEAMERICAN:REI opened at $1.41 on Thursday. The company has a market capitalization of $279.46 million, a price-to-earnings ratio of 2.47 and a beta of 1.58. Ring Energy has a 52-week low of $1.21 and a 52-week high of $2.20. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.54 and a quick ratio of 0.49.

Ring Energy (NYSEAMERICAN:REI) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $89.24 million during the quarter, compared to analyst estimates of $83.27 million. Ring Energy had a net margin of 29.44% and a return on equity of 9.21%. Research analysts anticipate that Ring Energy will post 0.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Ring Energy from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th.

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.