Ring Energy Inc (AMEX:REI) has a beta value of 1.79 and has seen 1.33 million shares traded in the last trading session. The company, currently valued at $403.78M, closed the last trade at $2.04 per share which meant it gained $0.04 on the day or 2.00% during that session. The REI stock price is -19.12% off its 52-week high price of $2.43 and 38.73% above the 52-week low of $1.25. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.98 million shares traded. The 3-month trading volume is 1.92 million shares.
Ring Energy Inc (AMEX:REI) trade information
Sporting 2.00% in the green in last session, the stock has traded in the green over the last five days, when the REI stock price touched $2.04 or saw a rise of 2.86%. Year-to-date, Ring Energy Inc shares have moved 39.73%, while the 5-day performance has seen it change 4.08%. Over the past 30 days, the shares of Ring Energy Inc (AMEX:REI) have changed 43.66%. Short interest in the company has seen 13.34 million shares shorted with days to cover at 6.81.
Ring Energy Inc (REI) estimates and forecasts
Figures show that Ring Energy Inc shares have outperformed across the wider relevant industry. The company’s shares have gained 18.60% over the past 6 months, with this year growth rate of 11.76%, compared to -3.50% for the industry. Other than that, the company has, however, increased its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are -28.60% and -21.40% for the next quarter. Revenue growth from the last financial year stood is estimated to be 2.10%.
4 analysts offering their estimates for the company have set an average revenue estimate of $88.01 million for the current quarter. 4 have an estimated revenue figure of $91.25 million for the next quarter concluding in Jun 2024.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 29.41% over the past 5 years. Earnings growth for 2024 is a modest -12.42% while over the next 5 years, the company’s earnings are expected to increase by 37.00%.
REI Dividends
Ring Energy Inc is expected to release its next earnings report between May 01 and May 06 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Ring Energy Inc (AMEX:REI)’s Major holders
Insiders own 12.04% of the company shares, while shares held by institutions stand at 47.70% with a share float percentage of 54.23%. Investors are also buoyed by the number of investors in a company, with Ring Energy Inc having a total of 179 institutions that hold shares in the company. The top two institutional holders are Warburg Pincus LLC with over 49.66 million shares worth more than $84.91 million. As of Jun 29, 2023, Warburg Pincus LLC held 25.42% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 8.35 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $14.28 million and represent 4.27% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Russell 2000 ETF and Vanguard Total Stock Market Index Fund. As of Aug 30, 2023, the former fund manager holds about 1.38% shares in the company for having 2.7 million shares of worth $5.11 million while later fund manager owns 2.56 million shares of worth $4.37 million as of Jun 29, 2023, which makes it owner of about 1.31% of company’s outstanding stock.
