Ring Energy (NYSEAMERICAN:REI) Trading 4.7% Higher – Here’s What Happened

Ring Energy, Inc. (NYSEAMERICAN:REI)’s stock price shot up 4.7% on Monday . The company traded as high as $1.57 and last traded at $1.56. 4,581,066 shares were traded during mid-day trading, a decline of 26% from the average session volume of 6,162,501 shares. The stock had previously closed at $1.49.

Analysts Set New Price Targets

Separately, Zacks Research upgraded 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 assigned a Hold rating to the stock. According to data from MarketBeat, Ring Energy currently has a consensus rating of “Moderate Buy” and an average target price of $2.50.

Ring Energy Stock Down 9.6%

The business’s 50-day moving average price is $1.40 and its 200-day moving average price is $1.12. The company has a quick ratio of 0.56, a current ratio of 0.61 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $297.35 million, a PE ratio of -8.87 and a beta of 0.77.

Ring Energy (NYSEAMERICAN:REI) last announced its quarterly earnings data on Wednesday, March 4th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $66.88 million for the quarter, compared to analysts’ expectations of $71.35 million. Ring Energy had a negative net margin of 11.31% and a positive return on equity of 5.13%. As a group, equities research analysts predict that Ring Energy, Inc. will post 0.33 EPS for the current fiscal year.

Institutional Trading of Ring Energy

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Ring Energy by 18.0% in the 3rd quarter. Vanguard Group Inc. now owns 10,613,683 shares of the company’s stock worth $11,569,000 after purchasing an additional 1,617,668 shares during the last quarter. Barclays PLC lifted its holdings in shares of Ring Energy by 32.8% during the 3rd quarter. Barclays PLC now owns 8,000,090 shares of the company’s stock valued at $8,720,000 after buying an additional 1,975,000 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of 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 buying an additional 1,109,514 shares in the last quarter. UBS Group AG increased its holdings in Ring Energy by 16.9% in the third quarter. UBS Group AG now owns 3,933,268 shares of the company’s stock worth $4,287,000 after buying an additional 569,626 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Ring Energy by 28.6% in the first quarter. AQR Capital Management LLC now owns 3,350,472 shares of the company’s stock worth $3,853,000 after buying an additional 744,284 shares during the last quarter. Institutional investors and hedge funds own 77.14% of the company’s stock.

Ring Energy Company Profile

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.