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Magnolia Oil & Gas Corp (MGY) up 23.02% since start of the year

Magnolia Oil & Gas Corp (NYSE: MGY) is 23.02% higher on its value in year-to-date trading and has touched a low of $18.72 and a high of $25.95 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 $25.95 in the last trading session, with the day’s gains setting it 0.24%.

Currently trading at $26.19, the stock is 7.98% and 17.85% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.98 million and changing 0.92% at the moment leaves the stock 19.37% off its SMA200. MGY registered 21.47% gain for a year compared to 6-month loss of 12.89%. The firm has a 50-day simple moving average (SMA 50) of $3.89 and a 200-day simple moving average (SMA200) of $5.45.

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The stock witnessed a 15.48% gain in the last 1 month and extending the period to 3 months gives it a 21.81%, and is 5.73% 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 2.03% over the week and 2.02% over the month.

Magnolia Oil & Gas Corp (MGY) has around 247 employees, a market worth around $5.35B and $1.23B in sales. Current P/E ratio is 12.84 and Fwd P/E is 11.16. Profit margin for the company is 31.29%. Distance from 52-week low is 39.90% and 0.92% from its 52-week high. The company has generated returns on investments over the last 12 months (18.36%).

Magnolia Oil & Gas Corp quarterly earnings per share for the current quarter are estimated at $0.47 with sales reaching $305.52M over the same period.The EPS is expected to grow by 2.26% this year, but quarterly earnings will post 6.50% year-over-year. Quarterly sales are estimated to shrink -6.50% in year-over-year returns.

Magnolia Oil & Gas Corp (MGY) Top Institutional Holders

405 institutions hold shares in Magnolia Oil & Gas Corp (MGY), with institutional investors hold 111.45% of the company’s shares. The shares outstanding are 183.16M, and float is at 171.54M with Short Float at 16.73%. Institutions hold 109.87% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 17.88 million shares valued at $373.66 million. The investor’s holdings represent 9.51% of the MGY Shares outstanding. As of Jun 29, 2023, the second largest holder is T. Rowe Price Investment Management, Inc. with 16.65 million shares valued at $347.91 million to account for 8.86% of the shares outstanding. The other top investors are Blackrock Inc. which holds 16.07 million shares representing 8.55% and valued at over $335.77 million, while First Trust Advisors LP holds 4.69% of the shares totaling 8.82 million with a market value of $184.33 million.

Magnolia Oil & Gas Corp (MGY) Insider Activity

The most recent transaction is an insider purchase by LARSON JAMES R,the company’sDirector. SEC filings show that LARSON JAMES R bought 1,000 shares of the company’s common stock on Sep 12 ’23 at a price of $23.52 per share for a total of $23520.0. Following the purchase, the insider now owns 76671.0 shares.

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