Ring Energy (NYSEAMERICAN:REI) Stock Price Down 2.6% – Here’s Why

Ring Energy, Inc. (NYSEAMERICAN:REI)’s share price was down 2.6% during mid-day trading on Monday . The stock traded as low as $0.8555 and last traded at $0.8558. Approximately 1,327,330 shares were traded during trading, an increase of 12% from the average daily volume of 1,180,858 shares. The stock had previously closed at $0.8785.

Wall Street Analyst Weigh In

Separately, Zacks Research raised Ring Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Ring Energy presently 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 0.51, a quick ratio of 0.50 and a current ratio of 0.55. The company has a fifty day moving average price of $0.95 and a two-hundred day moving average price of $0.91. The company has a market cap of $177.15 million, a P/E ratio of 3.35 and a beta of 0.84.

Ring Energy (NYSEAMERICAN:REI) last released its earnings results on Thursday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. The business had revenue of $78.60 million for the quarter, compared to analyst estimates of $83.20 million. Ring Energy had a positive return on equity of 6.07% and a negative net margin of 5.01%. On average, sell-side analysts anticipate that Ring Energy, Inc. will post 0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ring Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Valeo Financial Advisors LLC bought a new stake in shares of Ring Energy in the 2nd quarter valued at about $25,000. Centiva Capital LP acquired a new position in Ring Energy during the third quarter worth approximately $26,000. Barry Investment Advisors LLC raised its stake in Ring Energy by 150.0% in the third quarter. Barry Investment Advisors LLC now owns 25,000 shares of the company’s stock valued at $27,000 after buying an additional 15,000 shares during the period. Abel Hall LLC bought a new stake in Ring Energy in the second quarter valued at approximately $28,000. Finally, Wealthcare Advisory Partners LLC acquired a new stake in shares of Ring Energy in the third quarter valued at approximately $31,000. 77.14% of the stock is owned by 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.