Ring Energy (NYSEAMERICAN:REI) Stock Price Up 4.7% - Here's Why

Key Points

• Price move: Ring Energy shares rose 4.7% to $1.56 (intraday high $1.57) on Monday with ~4.58M shares traded, about 26% below its average daily volume.
• Analyst view: Zacks upgraded REI to a "hold" and the consensus rating is a "Moderate Buy" with a consensus target price of $2.50.
• Earnings and fundamentals: The company missed quarterly estimates (EPS $0.02 vs. $0.03 expected; revenue $66.88M vs. $71.35M), shows a negative net margin and negative P/E (-9.75), though its 50-day SMA ($1.39) is above the 200-day SMA ($1.11), indicating recent upward momentum.

Ring Energy, Inc. (NYSEAMERICAN:REI - Get Free Report) shares rose 4.7% on Monday . The stock traded as high as $1.57 and last traded at $1.56. Approximately 4,581,066 shares were traded during trading, a decline of 26% from the average daily volume of 6,162,501 shares. The stock had previously closed at $1.49.

Analysts Set New Price Targets

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

Ring Energy Stock Performance

The stock's 50-day simple moving average is $1.39 and its 200 day simple moving average is $1.11. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.56 and a current ratio of 0.61. The company has a market capitalization of $326.66 million, a PE ratio of -9.75 and a beta of 0.77.

Ring Energy (NYSEAMERICAN:REI - Get Free Report) 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). Ring Energy had a negative net margin of 11.31% and a positive return on equity of 5.13%. The firm had revenue of $66.88 million during the quarter, compared to analysts' expectations of $71.35 million. As a group, research analysts expect that Ring Energy, Inc. will post 0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ring Energy

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Ring Energy by 18.0% in the 3rd 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 increased 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 valued at $8,720,000 after purchasing an additional 1,975,000 shares during the last quarter. Ameriprise Financial Inc. increased its position 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 purchasing an additional 1,109,514 shares during the last quarter. UBS Group AG increased its position in shares of Ring Energy by 16.9% in the 3rd quarter. UBS Group AG now owns 3,933,268 shares of the company's stock valued at $4,287,000 after purchasing an additional 569,626 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Ring Energy by 28.6% in the 1st quarter. AQR Capital Management LLC now owns 3,350,472 shares of the company's stock valued at $3,853,000 after buying an additional 744,284 shares during the last quarter. 77.14% of the stock is owned by hedge funds and other institutional investors.

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.

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