Magnolia Oil & Gas Corporation (NYSE: MGY) is 65.72% higher on its value in year-to-date trading and has touched a low of $4.09 and a high of $13.35 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MGY stock was last observed hovering at around $11.62 in the last trading session, with the day’s gains setting it 0.08% off its average median price target of $13.50 for the next 12 months. It is also 22.0% off the consensus price target high of $15.00 offered by 12 analysts, but current levels are 2.5% higher than the price target low of $12.00 for the same period.
Currently trading at $11.70, the stock is 3.26% and 1.05% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.25 million and changing 0.69% at the moment leaves the stock 48.10% off its SMA200. MGY registered 89.32% gain for a year compared to 6-month gain of 148.94%. The firm has a 50-day simple moving average (SMA 50) of $11.50 and a 200-day simple moving average (SMA200) of $8.73.
The stock witnessed a 0.69% loss in the last 1 month and extending the period to 3 months gives it a 31.91%, and is 8.84% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.99% over the week and 4.64% over the month.
Magnolia Oil & Gas Corporation (MGY) has around 136 employees, a market worth around $2.85B and $534.50M in sales. Fwd P/E is 9.43. Distance from 52-week low is 186.06% and -12.36% from its 52-week high. The company has generated returns on investments over the last 12 months (-196.60%).
Magnolia Oil & Gas Corporation (MGY) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Magnolia Oil & Gas Corporation (MGY) is a “Overweight”. 12 analysts offering their recommendations for the stock have an average rating of 2.40, where 5 rate it as a Hold and 0 think it is a “Overweight”. 7 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Magnolia Oil & Gas Corporation is expected to release its quarterly report on 08/11/2021 and quarterly earnings per share for the current quarter are estimated at $0.26 with sales reaching $190.1M over the same period.The EPS is expected to grow by 6150.00% this year, but quarterly earnings will post 59.10% year-over-year.
Magnolia Oil & Gas Corporation (MGY) Top Institutional Holders
263 institutions hold shares in Magnolia Oil & Gas Corporation (MGY), with 8.99M shares held by insiders accounting for 5.52% while institutional investors hold 105.27% of the company’s shares. The shares outstanding are 164.90M, and float is at 126.83M with Short Float at 10.43%. Institutions hold 99.46% of the Float.
The top institutional shareholder in the company is EnerVest Limited with over 34.89 million shares valued at $246.31 million. The investor’s holdings represent 19.71% of the MGY Shares outstanding. As of Dec 30, 2020, the second largest holder is Price (T.Rowe) Associates Inc with 18.48 million shares valued at $130.46 million to account for 10.44% of the shares outstanding. The other top investors are FMR, LLC which holds 14.55 million shares representing 8.22% and valued at over $102.73 million, while Vanguard Group, Inc. (The) holds 6.89% of the shares totaling 12.2 million with a market value of $86.11 million.
Magnolia Oil & Gas Corporation (MGY) Insider Activity
A total of 19 insider transactions have happened at Magnolia Oil & Gas Corporation (MGY) in the last six months, with sales accounting for 14 and purchases happening 5 times. The most recent transaction is an insider sale by Walker John B, the company’s Director. SEC filings show that Walker John B sold 19,550,000 shares of the company’s common stock on Mar 05 at a price of $10.16 per share for a total of $198.56 million. Following the sale, the insider now owns 29.5 million shares.
Magnolia Oil & Gas Corporation disclosed in a document filed with the SEC on Mar 05 that EnerVest, Ltd. (Director) sold a total of 19,550,000 shares of the company’s common stock. The trade occurred on Mar 05 and was made at $10.16 per share for $198.56 million. Following the transaction, the insider now directly holds 29.5 million shares of the MGY stock.
Still, SEC filings show that on Nov 19, CHAZEN STEPHEN I (Chairman, President & CEO) acquired 40,000 shares at an average price of $5.77 for $0.23 million. The insider now directly holds 6,989,245 shares of Magnolia Oil & Gas Corporation (MGY).