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Why Magnolia Oil & Gas Corp (MGY) Stock Could See Much Higher Prices Ahead

Magnolia Oil & Gas Corp (NYSE: MGY) is 15.97% higher on its value in year-to-date trading and has touched a low of $19.16 and a high of $27.33 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 $24.25 in the last trading session, with the day’s gains setting it 0.44%.

Currently trading at $24.69, the stock is -1.96% and -3.98% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.22 million and changing 1.81% at the moment leaves the stock 7.43% off its SMA200. MGY registered 17.52% gain for a year compared to 6-month gain of 20.73%.

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The stock witnessed a -6.83% loss in the last 1 month and extending the period to 3 months gives it a 4.05%, and is -0.28% down 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 1.96% over the week and 2.13% over the month.

Magnolia Oil & Gas Corp (MGY) has around 247 employees, a market worth around $5.01B and $1.24B in sales. Current P/E ratio is 12.33 and Fwd P/E is 10.20. Profit margin for the company is 30.10%. Distance from 52-week low is 28.86% and -9.66% from its 52-week high. The company has generated returns on investments over the last 12 months (17.79%).

with sales reaching $343.89M over the same period.The EPS is expected to grow by 6.87% this year, but quarterly earnings will post 11.20% year-over-year.

Magnolia Oil & Gas Corp (MGY) Top Institutional Holders

The shares outstanding are 183.16M, and float is at 174.18M with Short Float at 18.14%.

Magnolia Oil & Gas Corp (MGY) Insider Activity

The most recent transaction is an insider sale by Walker John B,the company’sDirector. SEC filings show that Walker John B sold 12,000,000 shares of the company’s common stock on May 14 ’24 at a price of $25.58 per share for a total of $306.96 million. Following the sale, the insider now owns 4.16 million shares.

Magnolia Oil & Gas Corp disclosed in a document filed with the SEC on May 14 ’24 that EnerVest, Ltd. (Director) sold a total of 12,000,000 shares of the company’s common stock. The trade occurred on May 14 ’24 and was made at $25.58 per share for $306.96 million. Following the transaction, the insider now directly holds 4.16 million shares of the MGY stock.

Still, SEC filings show that on Sep 12 ’23, LARSON JAMES R (Director) acquired 1,000 shares at an average price of $23.52 for $23520.0. The insider now directly holds 76,671 shares of Magnolia Oil & Gas Corp (MGY).

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