Magnolia Oil & Gas Corporation (NYSE:MGY) has a beta value of 2.49 and has seen 807,205 shares traded in the last trading session. The company, currently valued at $1.27 Billion, closed the last trade at $5.02 per share which meant it lost -$0.23 on the day or -4.38% during that session. The MGY stock price is -164.54% off its 52-week high price of $13.28 and 35.66% above the 52-week low of $3.23. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.45 Million shares traded. The 3-month trading volume is 1.53 Million shares.
The consensus among analysts is that Magnolia Oil & Gas Corporation (MGY) is an Overweight stock at the moment, with a recommendation rating of 2.4. None of the analysts rate the stock as a Sell, while none rate it as Overweight. 6 out of 15 have rated it as a Hold, with 9 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.06.
Magnolia Oil & Gas Corporation (NYSE:MGY) trade information
Despite being -4.38% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Wednesday, Oct 14 when the MGY stock price touched $5.34-5 or saw a rise of 5.99%. Year-to-date, Magnolia Oil & Gas Corporation shares have moved -60.1%, while the 5-day performance has seen it change -2.71%. Over the past 30 days, the shares of Magnolia Oil & Gas Corporation (NYSE:MGY) have changed -17.3%. Short interest in the company has seen 17.83 Million shares shorted with days to cover at 11.65.
Wall Street analysts have a consensus price target for the stock at $7.73, which means that the shares’ value could jump 53.98% from current levels. The projected low price target is $6 while the price target rests at a high of $9. In that case, then, we find that the current price level is +79.28% off the targeted high while a plunge would see the stock lose 19.52% from current levels.
Magnolia Oil & Gas Corporation (MGY) estimates and forecasts
Figures show that Magnolia Oil & Gas Corporation shares have underperformed across the wider relevant industry. The company’s shares have gained +29.38% over the past 6 months, with this year growth rate of -116.67%, compared to -41.2% for the industry. Other than that, the company has, however, increased its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are 20% and 80% for the next quarter. Revenue growth from the last financial year stood is estimated to be -43.3%.
13 analysts offering their estimates for the company have set an average revenue estimate of $126.44 Million for the current quarter. 13 have an estimated revenue figure of $139.77 Million for the next quarter concluding in December 01, 2020. Year-ago sales stood $244.47 Million and $229.71 Million respectively for this quarter and the next, and analysts expect sales will grow by -48.3% for the current quarter and -39.2% for the next.
Earnings growth for 2020 is a modest -82.6% while over the next 5 years, the company’s earnings are expected to increase by 46.69%.
Magnolia Oil & Gas Corporation (NYSE:MGY)’s Major holders
Insiders own 6.6% of the company shares, while shares held by institutions stand at 109.89% with a share float percentage of 117.66%. Investors are also buoyed by the number of investors in a company, with Magnolia Oil & Gas Corporation having a total of 231 institutions that hold shares in the company. The top two institutional holders are EnerVest Limited with over 34.89 Million shares worth more than $211.42 Million. As of June 29, 2020, EnerVest Limited held 20.94% of shares outstanding.
The other major institutional holder is Price (T.Rowe) Associates Inc, with the holding of over 16.84 Million shares as of June 29, 2020. The firm’s total holdings are worth over $102.02 Million and represent 10.11% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Fidelity Strategic Advisers Fidelity U.S. Total Stock Fund and Price (T.Rowe) Small Cap Stock Fund. As of July 30, 2020, the former fund manager holds about 2.74% shares in the company for having 4569400 shares of worth $27.33 Million while later fund manager owns 4.16 Million shares of worth $25.2 Million as of June 29, 2020, which makes it owner of about 2.5% of company’s outstanding stock.