The Vanguard Group, Inc. recently announced the acquisition of new stake in Ring Energy Inc. (AMEX:REI). The institutional investor has increased its shareholding in the Energy company by 4.51% to 3.8 million shares with purchase of 0.16 million shares. This fresh investment now brings its stake to 5.59% valued currently at $4.41 million. In addition, Granahan Investment Management, I. raised its holdings by 1.1 million to 3.08 million shares. And Aristotle Capital Boston LLC has lifted its position by 2.20% or 65910.0 shares – to 3.06 million shares.
With over 1.27 million Ring Energy Inc. (REI) shares trading Tuesday and a closing price of $1.09 on the day, the dollar volume was approximately $1.38 million. The shares have shown a positive weekly performance of 2.83% and its price on 07/21/20 gained nearly 6.86%. Currently, there are 67.99M common shares owned by the public and among those 53.27M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for REI have a consensus price objective of $1.70. The analysts have set the share’s price value over the next 12 months at a high of $3.50 and a low of $1.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Ring Energy Inc. stock is 2.80 for the next 12 months. The average price target is 0.91% above its last price level and an upside to the estimated low will see the stock lose -9.0% over that period. But an upside of 68.86% will see the stock hit the forecast high price target while mean target price for the stock is $1.15.
Insiders at the company have transacted a total of 50 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 33 of these insider trades were purchases, accounting for 960,100 shares. Insider sales of the common stock occurred on 17 occasions, with total insider shares sold totaling 428,125 shares.
The top 3 mutual fund holders in Ring Energy Inc. are iShares Core S&P Small Cap ETF, USAA Small Cap Stock Fund, and Vanguard Total Stock Market Index. iShares Core S&P Small Cap ETF owns 3.71 million shares of the company’s stock, all valued at over $4.31 million. USAA Small Cap Stock Fund bought 35917.0 shares to see its total holdings expand to 1.54 million shares valued at over $1.78 million and representing 2.26% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 1.79% of the shares outstanding.
Shares of Ring Energy Inc. (AMEX: REI) opened at $1.06, up $0.04 from a prior closing price of $1.02. However, the script later closed the day at $1.09, up 6.86%. The company’s stock has a 5-day price change of 2.83% and 87.93% over the past three months. REI shares are trading -58.71% year to date (YTD), with the 12-month market performance down to -64.14% lower. It has a 12-month low price of $0.52 and touched a high of $3.31 over the same period. Currently, 1.27 million shares have been traded, compared to an average intraday trading volume of 1.49 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.47%, -6.81%, and -29.33% respectively.
Institutional ownership of Ring Energy Inc. (AMEX: REI) shares accounts for 63.60% of the company’s 67.99M shares outstanding. Mutual fund holders own 31.12%, while other institutional holders and individual stakeholders account for 6.86% and 25.86% respectively.
It has a market capitalization of $75.48M and a beta (3y monthly) value of 2.62. The stock’s trailing 12-month PE ratio is 1.19, while the earnings-per-share (ttm) stands at $0.92. The company has a PEG of 0.03 and a Quick Ratio of 1.60 with the debt-to-equity ratio at 0.65. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.04% over the week and 8.63% over the month.
Analysts forecast that Ring Energy Inc. (REI) will achieve an EPS of $0 for the current quarter, $0.02 for the next quarter and $0.04 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.07 while analysts give the company a high EPS estimate of $0.06. Comparatively, EPS for the current quarter was $0.16 a year ago. Earnings per share for the fiscal year are expected to increase by 198.70%, and -70.54% over the next financial year. EPS should grow at an annualized rate of 37.00% over the next five years, compared to 6.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Ring Energy Inc. (REI) as a “Moderate Buy” at a consensus score of 2.80. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 5 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the REI, a number of firms have released research notes about the stock. Alliance Global Partners stated their Neutral rating for the stock in a research note on March 18, 2020, with the firm’s price target at. Johnson Rice coverage for the Ring Energy Inc. (REI) stock in a research note released on March 17, 2020 offered a Accumulate rating with a price target of. SunTrust was of a view on March 09, 2020 that the stock is Hold, while Ladenburg Thalmann gave the stock Neutral rating on August 26, 2019, issuing a price target of $5- $3. Imperial Capital on their part issued Outperform rating on August 22, 2019.