Magnolia Oil & Gas Corp (NYSE: MGY) is 15.92% higher on its value in year-to-date trading and has touched a low of $19.16 and a high of $27.63 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 $24.71 in the last trading session, with the day’s loss setting it -0.03%.
Currently trading at $24.68, the stock is -1.75% and -2.75% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.5 million and changing -0.12% at the moment leaves the stock 4.43% off its SMA200. MGY registered 7.96% gain for a year compared to 6-month gain of 12.49%.
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The stock witnessed a -4.71% loss in the last 1 month and extending the period to 3 months gives it a -3.41%, and is -0.48% 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 2.20% over the week and 2.94% over the month.
Magnolia Oil & Gas Corp (MGY) has around 247 employees, a market worth around $4.91B and $1.29B in sales. Current P/E ratio is 12.12 and Fwd P/E is 10.37. Profit margin for the company is 29.09%. Distance from 52-week low is 28.81% and -10.68% from its 52-week high. The company has generated returns on investments over the last 12 months (17.02%).
The EPS is expected to grow by 3.89% this year
461.0 institutions hold shares in Magnolia Oil & Gas Corp (MGY), with institutional investors hold 120.88% of the company’s shares. The shares outstanding are 183.16M, and float is at 180.97M with Short Float at 16.70%. Institutions hold 119.19% of the Float.
The top institutional shareholder in the company is BLACKROCK INC. with over 30.81 million shares valued at $799.45 million. The investor’s holdings represent 16.893 of the MGY Shares outstanding. As of 2024-03-31, the second largest holder is VANGUARD GROUP INC with 20.76 million shares valued at $538.65 million to account for 11.3821 of the shares outstanding. The other top investors are STATE STREET CORP which holds 10.66 million shares representing 5.8441 and valued at over $276.57 million, while FIRST TRUST ADVISORS LP holds 5.7421 of the shares totaling 10.47 million with a market value of $271.74 million.
Magnolia Oil & Gas Corp (MGY) Insider Activity
The most recent transaction is an insider sale by Walker John B, the company’s Director. 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).
