Ring Energy (NYSEAMERICAN:REI) Stock Price Up 3.9% - Should You Buy?

Key Points

• Shares rose 3.9% to $1.58 on Monday with volume slightly above average; analysts hold a consensus rating of Moderate Buy and an average price target of $2.50.
• Ring Energy missed quarterly EPS and revenue (EPS $0.02 vs. $0.03 est.; revenue $66.88M vs. $71.35M), reports a negative net margin and negative P/E, and has weak liquidity (current ratio 0.61).
• About 77% of the stock is owned by institutional investors, and several hedge funds recently added or increased positions, indicating notable institutional interest despite the operational and financial challenges.

Shares of Ring Energy, Inc. (NYSEAMERICAN:REI - Get Free Report) shot up 3.9% during trading on Monday . The company traded as high as $1.58 and last traded at $1.58. 4,553,701 shares changed hands during mid-day trading, an increase of 3% from the average session volume of 4,425,869 shares. The stock had previously closed at $1.52.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Ring Energy to a "hold" rating in a research note on Tuesday, January 20th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $2.50.

Ring Energy Stock Up 3.9%

The company has a current ratio of 0.61, a quick ratio of 0.56 and a debt-to-equity ratio of 0.50. The firm's fifty day moving average price is $1.45 and its 200-day moving average price is $1.15. The company has a market cap of $330.85 million, a price-to-earnings ratio of -9.87 and a beta of 0.77.

Ring Energy (NYSEAMERICAN:REI - Get Free Report) last issued its quarterly earnings data on Wednesday, March 4th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Ring Energy had a positive return on equity of 5.13% and a negative net margin of 11.31%.The business had revenue of $66.88 million for the quarter, compared to analyst estimates of $71.35 million. Sell-side analysts predict that Ring Energy, Inc. will post 0.05 earnings per share for the current year.

Hedge Funds Weigh In On Ring Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP bought a new position in Ring Energy in the third quarter valued at approximately $795,000. WINTON GROUP Ltd increased its position in shares of Ring Energy by 264.8% during the third quarter. WINTON GROUP Ltd now owns 729,892 shares of the company's stock worth $796,000 after acquiring an additional 529,838 shares in the last quarter. State of Wyoming bought a new stake in shares of Ring Energy during the fourth quarter worth $296,000. Jefferies Financial Group Inc. raised its holdings in shares of Ring Energy by 90.0% during the fourth quarter. Jefferies Financial Group Inc. now owns 36,861 shares of the company's stock worth $32,000 after acquiring an additional 17,461 shares during the period. Finally, Linscomb Wealth Inc. acquired a new stake in shares of Ring Energy during the fourth quarter worth $80,000. 77.14% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.