Ring Energy (NYSEAMERICAN:REI) Stock Price Up 4.7% – Here’s Why

Ring Energy, Inc. (NYSEAMERICAN:REI) traded up 4.7% during trading on Monday . The company traded as high as $1.57 and last traded at $1.56. 4,581,066 shares traded hands 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 raised shares of Ring Energy to a “hold” rating in a research report on Tuesday, January 20th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2.50.

Ring Energy Price Performance

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 stock’s 50-day moving average is $1.39 and its 200 day moving average is $1.11. The stock has a market capitalization of $326.66 million, a PE ratio of -9.75 and a beta of 0.77.

Ring Energy (NYSEAMERICAN:REI) last posted its earnings results 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 during 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 analysts expect that Ring Energy, Inc. will post 0.33 earnings per share for the current year.

Institutional Trading of Ring Energy

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Ring Energy by 18.0% during 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 period. Barclays PLC boosted its stake in Ring Energy by 32.8% during the 3rd quarter. Barclays PLC now owns 8,000,090 shares of the company’s stock worth $8,720,000 after purchasing an additional 1,975,000 shares during the period. Ameriprise Financial Inc. boosted its stake in Ring Energy by 22.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,051,151 shares of the company’s stock worth $4,805,000 after purchasing an additional 1,109,514 shares during the period. UBS Group AG boosted its stake in Ring Energy by 16.9% during the 3rd quarter. UBS Group AG now owns 3,933,268 shares of the company’s stock worth $4,287,000 after purchasing an additional 569,626 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Ring Energy by 28.6% during the 1st quarter. AQR Capital Management LLC now owns 3,350,472 shares of the company’s stock worth $3,853,000 after purchasing an additional 744,284 shares during the period. Institutional investors and hedge funds own 77.14% of the company’s stock.

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.