Ring Energy (NYSEAMERICAN:REI) Stock Price Down 7.6% – What’s Next?

Shares of Ring Energy, Inc. (NYSEAMERICAN:REI) fell 7.6% during mid-day trading on Thursday . The company traded as low as $1.21 and last traded at $1.21. 4,076,077 shares were traded during trading, an increase of 9% from the average session volume of 3,737,579 shares. The stock had previously closed at $1.31.

Wall Street Analyst Weigh In

Separately, Zacks Research raised Ring Energy to a “hold” rating in a report on Tuesday, January 20th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Ring Energy has an average rating of “Moderate Buy” and an average price target of $2.50.

Ring Energy Stock Performance

The stock’s fifty day simple moving average is $0.99 and its 200-day simple moving average is $0.98. The company has a quick ratio of 0.50, a current ratio of 0.55 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $250.74 million, a PE ratio of -17.28 and a beta of 1.00.

Institutional Trading of Ring Energy

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Ring Energy by 18.0% in the third 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 during the last quarter. Barclays PLC boosted its position in shares of Ring Energy by 32.8% in 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 in the last quarter. Ameriprise Financial Inc. grew its stake in Ring Energy by 22.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,051,151 shares of the company’s stock valued at $4,805,000 after acquiring an additional 1,109,514 shares during the last quarter. UBS Group AG increased its holdings in Ring Energy by 16.9% during the 3rd quarter. UBS Group AG now owns 3,933,268 shares of the company’s stock valued at $4,287,000 after acquiring an additional 569,626 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Ring Energy by 28.6% during the 1st quarter. AQR Capital Management LLC now owns 3,350,472 shares of the company’s stock valued at $3,853,000 after acquiring an additional 744,284 shares in the last quarter. 77.14% of the stock is currently owned by hedge funds and other institutional investors.

About Ring Energy

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.