During the last session, Magnolia Oil & Gas Corp (NYSE:MGY)’s traded shares were 40.67 million, with the beta value of the company hitting 2.04. At the end of the trading day, the stock’s price was $23.86, reflecting an intraday loss of -0.71% or -$0.17. The 52-week high for the MGY share is $24.34, that puts it down -2.01 from that peak though still a striking 21.54% gain since the share price plummeted to a 52-week low of $18.72. The company’s market capitalization is $4.87B, and the average intraday trading volume over the past 10 days was 4.1 million shares, and the average trade volume was 2.72 million shares over the past three months.
Magnolia Oil & Gas Corp (NYSE:MGY) trade information
Magnolia Oil & Gas Corp (MGY) registered a -0.71% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -0.71% in intraday trading to $23.86, hitting a weekly high. The stock’s 5-day price performance is 1.10%, and it has moved by 16.85% in 30 days. Based on these gigs, the overall price performance for the year is 23.37%. The short interest in Magnolia Oil & Gas Corp (NYSE:MGY) is 26.16 million shares and it means that shorts have 9.26 day(s) to cover.
Magnolia Oil & Gas Corp (MGY) estimates and forecasts
Statistics show that Magnolia Oil & Gas Corp has underperformed its competitors in share price, compared to the industry in which it operates. Magnolia Oil & Gas Corp (MGY) shares have gone up 2.49% during the last six months, with a year-to-date growth rate less than the industry average at -2.45% against -1.30. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -17.90% this quarter and then drop -2.00% in the quarter after that. In the rating firms’ projections, revenue will increase 6.50% compared to the previous financial year.
Revenue for the current quarter is expected to be $307.34 million as predicted by 14 analyst(s). Meanwhile, a consensus of 14 analyst(s) estimates revenue growth to $323.19 million by the end of Jun 2024.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 14.59%. While earnings are projected to return 0.01% in 2024, the next five years will return -9.83% per annum.
MGY Dividends
Magnolia Oil & Gas Corp is due to release its next quarterly earnings between May 01 and May 06. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Magnolia Oil & Gas Corp is 0.47, with the dividend yield indicating at 1.99 percent, continuing the trend of increasing dividends in recent years.
Magnolia Oil & Gas Corp (NYSE:MGY)’s Major holders
Magnolia Oil & Gas Corp insiders own 1.35% of total outstanding shares while institutional holders control 109.79%, with the float percentage being 111.29%. Vanguard Group Inc is the largest shareholder of the company, while 402 institutions own stock in it. As of Jun 29, 2023, the company held over 17.88 million shares (or 9.51% of all shares), a total value of $373.66 million in shares.
The next largest institutional holding, with 16.65 million shares, is of T. Rowe Price Investment Management, Inc.’s that is approximately 8.86% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $347.91 million.
Also, the Mutual Funds coming in first place with the largest holdings of Magnolia Oil & Gas Corp (MGY) shares are First Trust Rising Dividend Achievers and Vanguard Total Stock Market Index Fund. Data provided on Sep 29, 2023 indicates that First Trust Rising Dividend Achievers owns about 7.07 million shares. This amounts to just over 3.76 percent of the company’s overall shares, with a $161.92 million market value. The same data shows that the other fund manager holds slightly less at 5.76 million, or about 3.07% of the stock, which is worth about $120.39 million.
