Value Hunters: Look To Ring Energy Inc. (REI)

BlackRock Fund Advisors 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 1.13% to 5.65 million shares with purchase of 63147.0 shares. This fresh investment now brings its stake to 3.13% valued currently at $10.23 million. In addition, The Vanguard Group, Inc. raised its holdings by 876.0 to 4.17 million shares. And Two Sigma Investments LP has lifted its position by 19.93% or 0.34 million shares – to 2.04 million shares.

With over 1.93 million Ring Energy Inc. (REI) shares trading Monday and a closing price of $1.89 on the day, the dollar volume was approximately $3.64 million. The shares have shown a negative half year performance of -36.58% and its price on 05/22/23 gained nearly 3.85%. Currently, there are 177.98M common shares owned by the public and among those 147.80M shares have been available to trade.

Insiders at the company have transacted a total of 40 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 21 of these insider trades were purchases, accounting for 129,975,201 shares. Insider sales of the common stock occurred on 19 occasions, with total insider shares sold totaling 13,142,697 shares.

The top 3 mutual fund holders in Ring Energy Inc. are Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market ETF owns 2.56 million shares of the company’s stock, all valued at over $4.63 million. iShares Russell 2000 ETF sold 30000.0 shares to see its total holdings shrink to 2.05 million shares valued at over $3.71 million and representing 1.14% of the shares outstanding. Vanguard Extended Market Index Fu bought 73300.0 shares to bring its total holdings to over 1.22 million shares at a value of $2.21 million. Vanguard Extended Market Index Fu now owns shares totaling to 0.68% of the shares outstanding.

Shares of Ring Energy Inc. (AMEX: REI) opened at $1.85, up $0.03 from a prior closing price of $1.82. However, the script later moved the day high at 1.9400, up 3.85%. The company’s stock has a 5-day price change of 6.18% and -9.13% over the past three months. REI shares are trading -23.17% year to date (YTD), with the 12-month market performance down to -55.11% lower. It has a 12-month low price of $1.62 and touched a high of $4.89 over the same period. REI has an average intraday trading volume of 2.51 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 7.20%, 2.08%, and -22.16% respectively.

Institutional ownership of Ring Energy Inc. (AMEX: REI) shares accounts for 52.40% of the company’s 177.98M shares outstanding. Mutual fund holders own 13.13%, while other institutional holders and individual stakeholders account for 8.68% and 12.94% respectively.

It has a market capitalization of $366.79M and a beta (3y monthly) value of 1.98. The stock’s trailing 12-month PE ratio is 1.75, while the earnings-per-share (ttm) stands at $1.08. The company has a PEG of 0.05 and a Quick Ratio of 0.40 with the debt-to-equity ratio at 0.61. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.88% over the week and 5.11% over the month.

Analysts forecast that Ring Energy Inc. (REI) will achieve an EPS of $0.12 for the current quarter, $0.13 for the next quarter and $0.65 for 2024. The lowest estimate earnings-per-share for the quarter is $0.08 while analysts give the company a high EPS estimate of $0.16. Comparatively, EPS for the current quarter was $0.24 a year ago. Earnings per share for the fiscal year are expected to decrease by -38.20%, and 17.67% over the next financial year. EPS should shrink at an annualized rate of 37.00% over the next five years, compared to 42.80% over the past 5-year period.