Magnolia Oil & Gas Corp (NYSE: MGY) is 16.72% 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 $24.42 in the last trading session, with the day’s gains setting it 0.43%.
Currently trading at $24.85, the stock is 1.77% and -0.28% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.4 million and changing 1.76% at the moment leaves the stock 3.17% off its SMA200. MGY registered 8.47% gain for a year compared to 6-month loss of -5.26%. The firm has a 50-day simple moving average (SMA 50) of $24.8864 and a 200-day simple moving average (SMA200) of $24.1065.
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The stock witnessed a -2.97% gain in the last 1 month and extending the period to 3 months gives it a -2.36%, and is -2.85% 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 3.33% over the week and 2.71% over the month.
Magnolia Oil & Gas Corp (MGY) has around 247 employees, a market worth around $4.95B and $1.29B in sales. Current P/E ratio is 12.20 and Fwd P/E is 11.79. Profit margin for the company is 29.09%. Distance from 52-week low is 29.70% and -10.06% from its 52-week high. The company has generated returns on investments over the last 12 months (17.02%).
with sales reaching $335.54M over the same period.The EPS is expected to shrink by -2.12% this year, but quarterly earnings will post 7.70% year-over-year. Quarterly sales are estimated to grow 5.70% in year-over-year returns.
Magnolia Oil & Gas Corp (MGY) Top Institutional Holders
461.0 institutions hold shares in Magnolia Oil & Gas Corp (MGY), with institutional investors hold 120.01% of the company’s shares. The shares outstanding are 199.12M, and float is at 183.41M with Short Float at 16.54%. Institutions hold 118.33% of the Float.
The top institutional shareholder in the company is BLACKROCK INC. with over 29.14 million shares valued at $738.49 million. The investor’s holdings represent 15.7585% of the MGY Shares outstanding. As of 2024-06-30, the second largest holder is VANGUARD GROUP INC with 19.84 million shares valued at $502.87 million to account for 10.7305 of the shares outstanding. The other top investors are FIRST TRUST ADVISORS LP which holds 11.09 million shares representing 5.9964% and valued at over $281.01 million, while STATE STREET CORP holds 5.5505 of the shares totaling 10.26 million with a market value of $260.11 million.
Magnolia Oil & Gas Corp (MGY) Insider Activity
The most recent transaction is an insider sale by EnerVest, Ltd., the company’s Director. SEC filings show that EnerVest, Ltd. sold 7,000,000 shares of the company’s common stock on Sep 23 ’24 at a price of $25.86 per share for a total of $181.02 million. Following the sale, the insider now owns 2.1 million shares.
Magnolia Oil & Gas Corp disclosed in a document filed with the SEC on Sep 23 ’24 that Walker John B (Director) sold a total of 7,000,000 shares of the company’s common stock. The trade occurred on Sep 23 ’24 and was made at $25.86 per share for $181.02 million. Following the transaction, the insider now directly holds 2.1 million shares of the MGY stock.
Still, SEC filings show that on Sep 23 ’24, EnerVest Energy Institutional (Director) Proposed Sale 644,724 shares at an average price of $25.91 for $16.7 million. The insider now directly holds shares of Magnolia Oil & Gas Corp (MGY).
