Is Ring Energy Inc (AMEX: REI) Worth It? How Should Investors Deal With It?

During the last session, Ring Energy Inc (AMEX:REI)’s traded shares were 2.99 million, with the beta value of the company hitting 1.80. At the end of the trading day, the stock’s price was $2.09, reflecting an intraday gain of 5.03% or $0.1. The 52-week high for the REI share is $2.43, that puts it down -16.27 from that peak though still a striking 40.19% gain since the share price plummeted to a 52-week low of $1.25. The company’s market capitalization is $413.67M, and the average intraday trading volume over the past 10 days was 1.86 million shares, and the average trade volume was 1.89 million shares over the past three months.

Ring Energy Inc (AMEX:REI) trade information

Ring Energy Inc (REI) registered a 5.03% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 5.03% in intraday trading to $2.09, hitting a weekly high. The stock’s 5-day price performance is 10.00%, and it has moved by 46.15% in 30 days. Based on these gigs, the overall price performance for the year is 10.00%. The short interest in Ring Energy Inc (AMEX:REI) is 13.34 million shares and it means that shorts have 6.81 day(s) to cover.

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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 up 10.58% during the last six months, with a year-to-date growth rate more than the industry average at 11.76% against -3.30. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -28.60% this quarter and then drop -21.40% in the quarter after that. In the rating firms’ projections, revenue will increase 0.90% compared to the previous financial year.

Revenue for the current quarter is expected to be $87.68 million as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $90.63 million by the end of Jun 2024.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 29.41%. While earnings are projected to return -14.22% in 2024, the next five years will return 37.00% per annum.

REI Dividends

Ring Energy Inc is due to release its next quarterly earnings between May 01 and May 06. 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 12.04% of total outstanding shares while institutional holders control 47.70%, with the float percentage being 54.23%. Warburg Pincus LLC is the largest shareholder of the company, while 179 institutions own stock in it. As of Jun 29, 2023, the company held over 49.66 million shares (or 25.42% of all shares), a total value of $84.91 million in shares.

The next largest institutional holding, with 8.35 million shares, is of Blackrock Inc.’s that is approximately 4.27% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $14.28 million.

Also, the Mutual Funds coming in first place with the largest holdings of Ring Energy Inc (REI) shares are iShares Russell 2000 ETF and Vanguard Total Stock Market Index Fund. Data provided on Aug 30, 2023 indicates that iShares Russell 2000 ETF owns about 2.7 million shares. This amounts to just over 1.38 percent of the company’s overall shares, with a $5.11 million market value. The same data shows that the other fund manager holds slightly less at 2.56 million, or about 1.31% of the stock, which is worth about $4.37 million.