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

Ring Energy, Inc. (NYSEAMERICAN:REI) was the recipient of unusually large options trading activity on Monday. Traders acquired 10,269 call options on the company. This represents an increase of 1,045% compared to the typical daily volume of 897 call options.

Analysts Set New Price Targets

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

Insider Transactions at Ring Energy

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

Institutional Investors Weigh In On Ring Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of REI. Vanguard Group Inc. increased its stake in shares of Ring Energy by 26.5% in the first quarter. Vanguard Group Inc. now owns 5,068,526 shares of the company’s stock worth $9,934,000 after acquiring an additional 1,062,654 shares during the period. American Century Companies Inc. raised its stake in Ring Energy by 42.6% during the second quarter. American Century Companies Inc. now owns 1,967,501 shares of the company’s stock worth $3,325,000 after purchasing an additional 587,690 shares during the period. Renaissance Technologies LLC raised its stake in Ring Energy by 50.4% during the second quarter. Renaissance Technologies LLC now owns 787,600 shares of the company’s stock worth $1,331,000 after purchasing an additional 264,010 shares during the period. XTX Topco Ltd increased its position in shares of Ring Energy by 399.8% during the second quarter. XTX Topco Ltd now owns 241,869 shares of the company’s stock valued at $409,000 after acquiring an additional 193,474 shares during the last quarter. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Ring Energy during the second quarter valued at about $323,000. Hedge funds and other institutional investors own 77.14% of the company’s stock.

Ring Energy Trading Down 1.2 %

Shares of NYSEAMERICAN:REI opened at $1.65 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.45 and a current ratio of 0.50. The stock has a market cap of $326.98 million, a P/E ratio of 4.13 and a beta of 1.63. Ring Energy has a 12 month low of $1.25 and a 12 month high of $2.20.

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

Ring Energy Company Profile

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.