Ring Energy Sees Unusually Large Options Volume (NYSEAMERICAN:REI)

Key Points

• Ring Energy experienced a significant surge in options trading, with 34,600 call options purchased, marking an increase of approximately 1,478% compared to its typical volume.
• Research firms have upgraded Ring Energy to a "hold" rating, with a current average price target of $2.50 following a recent upgrade by Zacks Research.
• The company's shares closed at $1.13 on Monday, with a market capitalization of $232.36 million and a price-to-earnings ratio of 3.21.

Ring Energy, Inc. (NYSEAMERICAN:REI - Get Free Report) saw some unusual options trading on Monday. Traders acquired 34,600 call options on the company. This is an increase of approximately 1,478% compared to the typical volume of 2,193 call options.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on REI. Zacks Research upgraded shares of Ring Energy from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. Alliance Global Partners started coverage on Ring Energy in a research report on Friday, July 11th. They set a "buy" rating and a $2.50 price objective on the stock. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $2.50.

Ring Energy Stock Performance

Shares of Ring Energy stock traded up $0.03 during trading hours on Monday, reaching $1.13. 2,470,210 shares of the stock traded hands, compared to its average volume of 2,804,137. Ring Energy has a one year low of $0.72 and a one year high of $1.78. The firm has a market capitalization of $232.36 million, a price-to-earnings ratio of 3.21 and a beta of 1.02. The company has a quick ratio of 0.58, a current ratio of 0.63 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average price of $0.96 and a 200 day moving average price of $0.90.

Institutional Trading of Ring Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its stake in shares of Ring Energy by 49.0% during the 4th quarter. Bank of America Corp DE now owns 229,458 shares of the company's stock worth $312,000 after acquiring an additional 75,507 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Ring Energy by 70.3% in the 4th quarter. Wellington Management Group LLP now owns 102,601 shares of the company's stock worth $140,000 after purchasing an additional 42,353 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Ring Energy by 639.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 82,559 shares of the company's stock worth $95,000 after purchasing an additional 71,388 shares during the period. Diversified Trust Co lifted its position in Ring Energy by 51.0% during the first quarter. Diversified Trust Co now owns 45,531 shares of the company's stock valued at $52,000 after purchasing an additional 15,377 shares in the last quarter. Finally, CWM LLC lifted its position in Ring Energy by 99.3% during the first quarter. CWM LLC now owns 27,773 shares of the company's stock valued at $32,000 after purchasing an additional 13,840 shares in the last quarter. 77.14% of the stock is owned by hedge funds and other institutional investors.

Ring Energy Company Profile

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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