Investors Buy Large Volume of Call Options on Ring Energy (NYSEAMERICAN:REI)

Ring Energy, Inc. (NYSEAMERICAN:REI) was the target of some unusual options trading on Tuesday. Investors purchased 60,792 call options on the company. This represents an increase of approximately 2,154% compared to the typical volume of 2,697 call options.

Ring Energy Stock Down 0.7%

Ring Energy stock opened at $0.93 on Thursday. Ring Energy has a 12 month low of $0.72 and a 12 month high of $1.77. The stock has a fifty day simple moving average of $1.03 and a two-hundred day simple moving average of $0.89. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 0.50. The firm has a market cap of $192.54 million, a price-to-earnings ratio of 2.66 and a beta of 1.02.

Analysts Set New Price Targets

Several brokerages have recently weighed in on REI. Alliance Global Partners initiated coverage on Ring Energy in a report on Friday, July 11th. They set a “buy” rating and a $2.50 price target for the company. Zacks Research raised shares of Ring Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, August 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ring Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $2.50.

Hedge Funds Weigh In On Ring Energy

A number of hedge funds have recently bought and sold shares of REI. Ameriprise Financial Inc. boosted its holdings in shares of Ring Energy by 22.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,051,151 shares of the company’s stock valued at $4,805,000 after acquiring an additional 1,109,514 shares during the last quarter. AQR Capital Management LLC lifted its position in Ring Energy by 28.6% during the first quarter. AQR Capital Management LLC now owns 3,350,472 shares of the company’s stock valued at $3,853,000 after purchasing an additional 744,284 shares during the period. Bridgeway Capital Management LLC lifted its position in Ring Energy by 3.3% during the second quarter. Bridgeway Capital Management LLC now owns 2,131,708 shares of the company’s stock valued at $1,693,000 after purchasing an additional 67,637 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Ring Energy by 57.8% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 967,853 shares of the company’s stock worth $768,000 after purchasing an additional 354,542 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in Ring Energy in the 1st quarter worth approximately $1,092,000. Hedge funds and other institutional investors own 77.14% of the company’s stock.

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.