Ring Energy Target of Unusually Large Options Trading (NYSEAMERICAN:REI)

Ring Energy, Inc. (NYSEAMERICAN:REIGet Rating) saw unusually large options trading on Tuesday. Stock investors acquired 10,439 call options on the company. This is an increase of 243% compared to the average volume of 3,046 call options.

Insider Transactions at Ring Energy

In related news, major shareholder William R. Kruse purchased 507,214 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was acquired at an average cost of $2.67 per share, with a total value of $1,354,261.38. Following the transaction, the insider now owns 13,446,948 shares of the company’s stock, valued at approximately $35,903,351.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Ring Energy

A number of large investors have recently modified their holdings of the company. UBS Group AG grew its position in shares of Ring Energy by 252.1% in the 1st quarter. UBS Group AG now owns 9,292 shares of the company’s stock worth $36,000 after buying an additional 6,653 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Ring Energy by 38.0% during the first quarter. Acadian Asset Management LLC now owns 25,921 shares of the company’s stock valued at $99,000 after purchasing an additional 7,144 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Ring Energy by 2.3% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 321,551 shares of the company’s stock valued at $1,228,000 after purchasing an additional 7,247 shares during the period. Bank of America Corp DE grew its holdings in Ring Energy by 23.5% during the first quarter. Bank of America Corp DE now owns 38,710 shares of the company’s stock valued at $148,000 after purchasing an additional 7,375 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in Ring Energy by 43.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 27,349 shares of the company’s stock valued at $73,000 after purchasing an additional 8,249 shares during the period. 29.20% of the stock is owned by hedge funds and other institutional investors.

Ring Energy Stock Down 7.1 %

NYSEAMERICAN:REI opened at $2.62 on Wednesday. Ring Energy has a twelve month low of $2.02 and a twelve month high of $5.09. The stock has a market capitalization of $342.12 million, a price-to-earnings ratio of -87.30 and a beta of 2.13. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.39 and a current ratio of 0.39.

Ring Energy (NYSEAMERICAN:REIGet Rating) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.05. Ring Energy had a return on equity of 10.23% and a net margin of 1.69%. The firm had revenue of $84.96 million for the quarter, compared to analysts’ expectations of $63.96 million. On average, analysts expect that Ring Energy will post 0.61 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Roth Capital downgraded Ring Energy from a “buy” rating to a “neutral” rating in a research note on Monday, August 1st.

About Ring Energy

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Ring Energy, Inc, an exploration and production company, engages in the acquisition, exploration, development, and production of oil and natural gas in Texas and New Mexico. As of December 31, 2021, the company's proved reserves consisted of approximately 77.8 million barrel of oil equivalent. It also had interests in 18,882 net developed acres and 1,406 net undeveloped acres in Andrews and Gaines counties, Texas; 18,437 net developed acres in Culberson and Reeves counties, Texas; and 13,662 net developed acres and 11,993 net undeveloped acres in Yoakum, Runnels, and Coke Counties, Texas and Lea County, New Mexico.

Further Reading

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