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

Ring Energy, Inc. (NYSEAMERICAN:REI) was the recipient of some unusual options trading on Monday. Stock investors bought 10,269 call options on the company. This represents an increase of approximately 1,045% compared to the typical daily volume of 897 call options.

Ring Energy Stock Up 2.4 %

Shares of NYSEAMERICAN:REI opened at $1.69 on Wednesday. Ring Energy has a 1 year low of $1.25 and a 1 year 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. The company has a market capitalization of $334.91 million, a PE ratio of 4.23 and a beta of 1.63.

Ring Energy (NYSEAMERICAN:REI) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.11 earnings per share 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 firm had revenue of $99.14 million for the quarter, compared to analyst estimates of $98.29 million. As a group, equities research analysts anticipate that Ring Energy will post 0.43 EPS for the current year.

Insider Activity at Ring Energy

In related news, major shareholder Warburg Pincus & Co Us, Llc sold 6,200,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $1.64, for a total transaction of $10,168,000.00. Following the completion of the transaction, the insider now owns 39,920,643 shares of the company’s stock, valued at $65,469,854.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Ring Energy

Several hedge funds and other institutional investors have recently bought and sold shares of REI. Vanguard Group Inc. increased its stake in Ring Energy by 26.5% during 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 last quarter. AQR Capital Management LLC grew its holdings in shares of Ring Energy by 4.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,574,169 shares of the company’s stock worth $6,040,000 after purchasing an additional 136,109 shares during the period. American Century Companies Inc. increased its position in shares of Ring Energy by 42.6% during the 2nd 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 last quarter. Bank of New York Mellon Corp raised its holdings in Ring Energy by 10.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,264,640 shares of the company’s stock valued at $2,137,000 after buying an additional 122,851 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Ring Energy by 50.4% in the second quarter. Renaissance Technologies LLC now owns 787,600 shares of the company’s stock valued at $1,331,000 after buying an additional 264,010 shares during the last quarter. 77.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.