Investors Purchase Large Volume of Ring Energy Call Options (NYSEAMERICAN:REI)

Key Points

• Ring Energy saw a staggering 2,154% increase in call options trading, with 60,792 call options acquired on Tuesday, compared to an average of just 2,697.
• Analysts have given Ring Energy a consensus rating of "Moderate Buy" with a target price of $2.50, reflecting recent positive reassessments of the stock.
• Institutional investors have significantly increased their stakes in Ring Energy, with 77.14% of the shares now owned by hedge funds and other institutional investors.

Ring Energy, Inc. (NYSEAMERICAN:REI - Get Free Report) was the recipient of unusually large options trading activity on Tuesday. Stock investors acquired 60,792 call options on the company. This represents an increase of approximately 2,154% compared to the typical volume of 2,697 call options.

Analysts Set New Price Targets

Several research firms have commented on REI. Alliance Global Partners started coverage on shares of Ring Energy in a report on Friday, July 11th. They issued a "buy" rating and a $2.50 target price for the company. Zacks Research raised shares of Ring Energy from a "strong sell" rating to a "hold" rating in a research report on Friday, August 29th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Ring Energy has an average rating of "Moderate Buy" and a consensus price target of $2.50.

Institutional Trading of Ring Energy

A number of large investors have recently made changes to their positions in REI. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Ring Energy by 639.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 82,559 shares of the company's stock valued at $95,000 after acquiring an additional 71,388 shares during the period. Nuveen LLC acquired a new stake in shares of Ring Energy during the first quarter worth $503,000. Jefferies Financial Group Inc. acquired a new stake in Ring Energy in the first quarter valued at $1,092,000. CWM LLC lifted its holdings in Ring Energy by 99.3% in the first quarter. CWM LLC now owns 27,773 shares of the company's stock valued at $32,000 after acquiring an additional 13,840 shares during the period. Finally, Ieq Capital LLC purchased a new position in shares of Ring Energy in the first quarter valued at $84,000. 77.14% of the stock is currently owned by hedge funds and other institutional investors.

Ring Energy Trading Up 0.4%

Shares of REI stock traded up $0.00 on Tuesday, hitting $0.94. 1,732,070 shares of the stock traded hands, compared to its average volume of 2,746,138. The firm's 50-day moving average price is $1.02 and its two-hundred day moving average price is $0.89. Ring Energy has a twelve month low of $0.72 and a twelve month high of $1.77. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.58 and a current ratio of 0.63. The stock has a market capitalization of $193.96 million, a PE ratio of 2.68 and a beta of 1.02.

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.

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