In the last trading session, 1,030,000,000 shares of the Magnolia Oil & Gas Corporation (NYSE:MGY) were traded, and its beta was 2.67. Most recently the company’s share price was $11.74, and it changed around $0.06 or 0.01% from the last close, which brings the market valuation of the company to $2.85 Billion. MGY currently trades at a discount to its 52-week high of $13.35, offering almost -13.71% off that amount. The share price’s 52-week low was $3.59, which indicates that the current value has risen by an impressive 69.42% since then. We note from Magnolia Oil & Gas Corporation’s average daily trading volume that its 10-day average is 1.76 Million shares, with the 3-month average coming to 2.62 Million.
Magnolia Oil & Gas Corporation stock received a consensus recommendation rating of Overweight, based on a mean score of 2.5. If we narrow it down even further, the data shows that none out of 13 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 5 recommended MGY as a Hold, whereas 8 deemed it a Buy, and no one rated it as Underweight. Magnolia Oil & Gas Corporation is expected to report earnings per share of $0.24 for the current quarter.
Magnolia Oil & Gas Corporation (NYSE:MGY): Trading Information
Instantly MGY has showed a green trend with a performance of 0.51% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $12.26 on Tuesday, Apr 06 increased the stock’s daily price by 4.24%. The company’s shares are currently up 0.66% year-to-date, but still up 0.0191 over the last five days. On the other hand, Magnolia Oil & Gas Corporation (NYSE:MGY) is -0.09% down in the 30-day period. We can see from the shorts that 13.08 Million shares have been sold at a short interest cover period of 4.99 day (s).
The consensus price target as assigned by Wall Street analysts is $13.46, which translates to bears needing to increase their stock price by 14.65% from its current value. Analyst projections state that MGY is forecast to be at a low of $10 and a high of $16. In order for the stock price to hit the forecast high, the stock would need to surge +36.29% from its current level, while the stock would need to crash -14.82% from its current level to reach the projected low.
Magnolia Oil & Gas Corporation (MGY) projections and forecasts
Magnolia Oil & Gas Corporation share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +121.93 percent over the past six months and at a -5300% annual growth rate that is well below the industry average of 14%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +318.2% in revenue this quarter, and will report an increase of 462.5% in the next quarter. The year-over-year growth rate is expected to be 54.4%, up from the previous year.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of 0%. Magnolia Oil & Gas Corporation earnings are expected to increase by 5900% in 2021, but the outlook is positive 46.69% per year for the next five years.
Magnolia Oil & Gas Corporation (NYSE:MGY)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 60.74% of Magnolia Oil & Gas Corporation shares, and 97.83% of them are in the hands of institutional investors. The stock currently has a share float of 249.22%. Magnolia Oil & Gas Corporation stock is held by 259 institutions, with EnerVest Limited being the largest institutional investor. By Dec 30, 2020, it held 19.71% of the shares, which is about 34.89 Million shares worth $246.31 Million.
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Price (T.Rowe) Associates Inc, with 10.44% or 18.48 Million shares worth $130.46 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Price (T.Rowe) Small-Cap Value Fund and Price (T.Rowe) Small Cap Stock Fund were the top two Mutual Funds as of Dec 30, 2020. The former held 4353423 shares worth $30.74 Million, making up 2.46% of all outstanding shares. On the other hand, Price (T.Rowe) Small Cap Stock Fund held roughly 4.09 Million shares worth around $28.9 Million, which represents about 2.31% of the total shares outstanding.