Magnolia Oil & Gas Corp (NYSE: MGY) is 4.79% higher on its value in year-to-date trading and has touched a low of $19.53 and a high of $29.02 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 $24.80 in the last trading session, with the day’s loss setting it -0.3%.
Currently trading at $24.50, the stock is -2.28% and -3.95% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.35 million and changing -1.21% at the moment leaves the stock -3.81% off its SMA200. MGY registered 16.33% gain for a year compared to 6-month loss of -7.89%. The firm has a 50-day simple moving average (SMA 50) of $25.5618 and a 200-day simple moving average (SMA200) of $25.48195.
The stock witnessed a 6.61% gain in the last 1 month and extending the period to 3 months gives it a -4.18%, and is -5.41% 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 2.61% over the week and 2.39% over the month.
Magnolia Oil & Gas Corp (MGY) has around 247 employees, a market worth around $4.82B and $1.31B in sales. Current P/E ratio is 12.12 and Fwd P/E is 11.78. Profit margin for the company is 28.52%. Distance from 52-week low is 25.45% and -15.58% from its 52-week high. The company has generated returns on investments over the last 12 months (16.25%).
with sales reaching $324.84M over the same period.The EPS is expected to shrink by -3.03% this year, but quarterly earnings will post 7.12% year-over-year. Quarterly sales are estimated to grow 0.69% in year-over-year returns.
480.0 institutions hold shares in Magnolia Oil & Gas Corp (MGY), with institutional investors hold 120.79% of the company’s shares. The shares outstanding are 191.48M, and float is at 186.29M with Short Float at 16.11%. Institutions hold 119.12% 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
Magnolia Oil & Gas Corp disclosed in a document filed with the SEC on Sep 23 ’24 that EnerVest, Ltd. (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, Walker John B (Director) disposed off 7,000,000 shares at an average price of $25.86 for $181.02 million. The insider now directly holds 2,099,403 shares of Magnolia Oil & Gas Corp (MGY).
