We investigated the optomechanical dynamics and explored the quantum phase of a Bose-Einstein condensate in a ring cavity. The interaction between the atoms and the cavity field in the running wave mode induces a semiquantized spin-orbit coupling (SOC) for the atoms. We found that the evolution of the magnetic excitations of the matter field resembles that of an optomechanical oscillator moving in a viscous optical medium, with very good integrability and traceability, regardless of the atomic interaction. Moreover, the light-atom coupling induces a sign-changeable long-range interatomic interaction, which reshapes the typical energy spectrum of the system in a drastic manner. As a result, a new quantum phase featuring a high quantum degeneracy was found in the transitional area for SOC. Our scheme is immediately realizable and the results are measurable in experiments.