Ring Energy Inc (AMEX: REI) stock jumped 2.33% on Monday to $1.76 against a previous-day closing price of $1.72. With 1.62 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.31 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $1.7750 whereas the lowest price it dropped to was $1.7200. The 52-week range on REI shows that it touched its highest point at $2.95 and its lowest point at $1.38 during that stretch. It currently has a 1-year price target of $3.50. Beta for the stock currently stands at 1.89.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of REI was up-trending over the past week, with a rise of 15.79%, but this was down by -2.22% over a month. Three-month performance dropped to -5.38% while six-month performance fell -6.88%. The stock lost -40.94% in the past year, while it has lost -28.46% so far this year. A look at the trailing 12-month EPS for REI yields 0.36 with Next year EPS estimates of 0.62. For the next quarter, that number is 0.13. This implies an EPS growth rate of -38.20% for this year and 12.73% for next year. EPS is expected to grow by 37.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 100.74%.
Float and Shares Shorts:
At present, 175.53 million REI shares are outstanding with a float of 131.06 million shares on hand for trading. On Oct 30, 2023, short shares totaled 14.4 million, which was 7.37% higher than short shares on Sep 28, 2023. In addition to Mr. Paul D. McKinney as the firm’s CEO & Chairman of the Board, Mr. Travis T. Thomas serves as its Executive VP, CFO, Corporate Secretary & Treasurer.
Institutional Ownership:
Through their ownership of 47.85% of REI’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 35.53% of REI, in contrast to 14.21% held by mutual funds. Shares owned by individuals account for 11.32%. As the largest shareholder in REI with 3.07% of the stake, BlackRock Fund Advisors holds 6,003,318 shares worth 6,003,318. A second-largest stockholder of REI, The Vanguard Group, Inc., holds 3,890,409 shares, controlling over 1.99% of the firm’s shares. Columbia Management Investment Ad is the third largest shareholder in REI, holding 3,661,679 shares or 1.87% stake. With a 1.41% stake in REI, the iShares Russell 2000 ETF is the largest stakeholder. A total of 2,749,388 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 1.37% of REI stock, is the second-largest Mutual Fund holder. It holds 2,669,972 shares valued at 4.65 million. Columbia Small Cap Value Fund I holds 1.22% of the stake in REI, owning 2,377,720 shares worth 4.14 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for REI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With REI analysts setting a high price target of $3.50 and a low target of $3.50, the average target price over the next 12 months is $3.50. Based on these targets, REI could surge 98.86% to reach the target high and rise by 98.86% to reach the target low. Reaching the average price target will result in a growth of 98.86% from current levels.
Summary of Insider Activity:
Insiders traded REI stock several times over the past three months with 1 Buys and 9 Sells. In these transactions, 50,000 shares were bought while 2,732,857 shares were sold. The number of buy transactions has increased to 16 while that of sell transactions has risen to 22 over the past year. The total number of shares bought during that period was 1,422,750 while 40,717,513 shares were sold.
