In the last trading session, 1.84 million shares of the Ring Energy Inc (AMEX:REI) were traded, and its beta was 1.76. Most recently the company’s share price was $1.96, and it changed around $0.04 or 2.08% from the last close, which brings the market valuation of the company to $387.94M. REI currently trades at a discount to its 52-week high of $2.43, offering almost -23.98% off that amount. The share price’s 52-week low was $1.25, which indicates that the current value has risen by an impressive 36.22% since then. We note from Ring Energy Inc’s average daily trading volume that its 10-day average is 1.98 million shares, with the 3-month average coming to 1.95 million.
Ring Energy Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.33. If we narrow it down even further, the data shows that 0 out of 3 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 2 recommended REI as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Ring Energy Inc is expected to report earnings per share of $0.1 for the current quarter.
Ring Energy Inc (AMEX:REI) trade information
Instantly REI has showed a green trend with a performance of 2.08% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 34.25% year-to-date, but still up 2.62% over the last five days. On the other hand, Ring Energy Inc (AMEX:REI) is 40.00% up in the 30-day period. We can see from the shorts that 13.34 million shares have been sold at a short interest cover period of 6.81 day(s).
Ring Energy Inc (REI) estimates and forecasts
Ring Energy Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -2.97 percent over the past six months and at a 11.76% annual growth rate that is well above the industry average of -3.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -28.60% in revenue this quarter, and will report a decrease of -21.40% in the next quarter. The year-over-year growth rate is expected to be 0.90%, up from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $87.68 million in revenue for the current quarter. 3 analysts expect Ring Energy Inc to make $90.63 million in revenue for the quarter ending Jun 2024. Analysts predict that the company’s current quarter sales will drop, forecast at -0.50%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 29.41%. Ring Energy Inc earnings are expected to increase by -14.22% in 2024, but the outlook is positive 37.00% per year for the next five years.
REI Dividends
Ring Energy Inc’s next quarterly earnings report is expected to be released around May 01 and May 06.
Ring Energy Inc (AMEX:REI)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 12.04% of Ring Energy Inc shares, and 47.70% of them are in the hands of institutional investors. The stock currently has a share float of 54.23%. Ring Energy Inc stock is held by 179 institutions, with Warburg Pincus LLC being the largest institutional investor. By Jun 29, 2023, it held 25.42% of the shares, which is about 49.66 million shares worth $84.91 million.
Blackrock Inc., with 4.27% or 8.35 million shares worth $14.28 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.
iShares Russell 2000 ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Aug 30, 2023. The former held 2.7 million shares worth $5.11 million, making up 1.38% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 2.56 million shares worth around $4.37 million, which represents about 1.31% of the total shares outstanding.
