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Why Ring Energy Inc. (AMEX: REI) Should Be On Your Watchlist

During the last session, Ring Energy Inc. (AMEX:REI)’s traded shares were 1.44 million, with the beta value of the company hitting 1.98. At the end of the trading day, the stock’s price was $1.81, reflecting an intraday loss of -6.70% or -$0.13. The 52-week high for the REI share is $4.89, that puts it down -170.17 from that peak though still a striking 10.5% gain since the share price plummeted to a 52-week low of $1.62. The company’s market capitalization is $351.27M, and the average intraday trading volume over the past 10 days was 1.68 million shares, and the average trade volume was 2.47 million shares over the past three months.

Ring Energy Inc. (REI) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.70. REI has a Sell rating from 0 analyst(s) out of 3 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $ARMOUR Residential REIT, Inc.

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Ring Energy Inc. (AMEX:REI) trade information

The stock plummet -6.70% in intraday trading to $1.81 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is 0.00%, and it has moved by 5.85% in 30 days. Based on these gigs, the overall price performance for the year is -56.39%. The short interest in Ring Energy Inc. (AMEX:REI) is 15.49 million shares and it means that shorts have 7.43 day(s) to cover.

The consensus price target of analysts on Wall Street is $5.75, which implies an increase of 68.52% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $3.50 and $8.00 respectively. As a result, REI is trading at a discount of -341.99% off the target high and -93.37% off the low.

Ring Energy Inc. (REI) estimates and forecasts

Statistics show that Ring Energy Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Ring Energy Inc. (REI) shares have gone down -37.37% during the last six months, with a year-to-date growth rate more than the industry average at -22.47% against -24.20.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 42.80%. While earnings are projected to return -38.20% in 2023, the next five years will return 37.00% per annum.

REI Dividends

Ring Energy Inc. is due to release its next quarterly earnings between August 02 and August 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Ring Energy Inc. (AMEX:REI)’s Major holders

Ring Energy Inc. insiders own 10.87% of total outstanding shares while institutional holders control 51.63%, with the float percentage being 57.93%. Warburg Pincus LLC is the largest shareholder of the company, while 165 institutions own stock in it. As of Mar 30, 2023, the company held over 49.66 million shares (or 25.45% of all shares), a total value of $94.35 million in shares.

The next largest institutional holding, with 6.81 million shares, is of Blackrock Inc.’s that is approximately 3.49% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $12.94 million.

Also, the Mutual Funds coming in first place with the largest holdings of Ring Energy Inc. (REI) shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 2.56 million shares. This amounts to just over 1.42 percent of the company’s overall shares, with a $6.29 million market value. The same data shows that the other fund manager holds slightly less at 2.14 million, or about 1.18% of the stock, which is worth about $4.49 million.

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