Growth Story Still Intact For Magnolia Oil & Gas Corporation (MGY)


    T. Rowe Price Associates, Inc. (I.. has recently announced that it has increased stake in Magnolia Oil & Gas Corporation (NYSE:MGY) by 2.25%. After grabbing 16.84 million shares, the institutional investor is now in possession of 0.37 million shares of the Energy Company. The new investment brought the stake of investor firm to 10.11% having worth around $100.68 million. Moreover, Wellington Management Co. LLP increased its share by 0.86 million to have a control over 8.6 million shares. And BlackRock Fund Advisors raised its holdings to 1.09 million shares by acquiring 8.14 million shares or 4.88% of the stake.

    Magnolia Oil & Gas Corporation (MGY) concluded trading on 08/26/20 at a closing price of $6.03, with 1.17 million shares of worth about $7.08 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -6.37% during that period and on Wednesday the price saw a loss of about -4.29%. Currently the company’s common shares owned by public are about 166.57M shares, out of which, 105.52M shares are available for trading.

    Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $9.00 and could fall to a lowest price of $6.75. Analysts also issued an outlook of 2.50 for the Magnolia Oil & Gas Corporation stock for next 12 months. The stock’s current price level is 7.52% above of average price target set by the analysts, while a rise to estimated low would result in gain of 10.67 for the stock. However, touching the estimated high of $9.00 would mean a gain of 33.0% for the stock.

    According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 64 times over the past 12 months. They bought 672,861 shares in 19 of the transactions. In 45 selling transactions, insiders dumped 1,097,806 shares.

    Davis New York Venture Fund, T Rowe Price Small Cap Stock Fund, and MFS New Discovery Value Fund are the top 3 mutual funds which are holding stakes in Magnolia Oil & Gas Corporation Davis New York Venture Fund is currently holding 8.03 million shares of worth totaling $48.02 million. The company recently came buying 0.0 shares which brought its stake up to 4.82% of the company’s outstanding shares. T Rowe Price Small Cap Stock Fund bought 66729.0 shares, after which its hold over company’s outstanding shares expand to 2.50%, leaving 4.16 million shares with the mutual fund that have a worth of about $24.87 million. MFS New Discovery Value Fund, after buying 3.33 million shares, have now control over 2.00% of the stake in the company. It holds 0.57 million shares of worth $19.92 million.

    Magnolia Oil & Gas Corporation (NYSE: MGY) started trading at $6.30, below $0.0 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $6.03, or with a loss of -4.29%. Stock saw a price change of -6.37% in past 5 days and over the past one month there was a price change of 1.01%. Year-to-date (YTD), MGY shares are showing a performance of -52.07% which decreased to -38.84% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $3.23 but also hit the highest price of $13.28 during that period. While comparing its average daily trading volume of 1.81 million shares, we see that about 1.17 million changed hands on the day. The stock is currently trading -5.29% below its 20-day simple moving average (SMA20), while that difference is down -4.78% for SMA50 and it goes to -22.40% lower than SMA200.

    T. Rowe Price Associates, Inc. (I.. acquired 16.84 million shares of Magnolia Oil & Gas Corporation having value of about $100.68 million. Data submitted at the U.S SEC by T. Rowe Price Associates, Inc. (I.. revealed that the firm now holds 0.37 million shares in the company valued at close to $2237455.62, or have control over 2.25% stake in the company. Holding of mutual funds in the company is about 35.03% while other institutional holders and individual stake holders have control over 49.01% and 30.09% of the stake respectively.

    The stock has a current market capitalization of $1.58B. It has posted earnings per share of -$7.36 in the same period. It has Quick Ratio of 1.50 while making debt-to-equity ratio of 0.74. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MGY, volatility over the week remained 4.02% while standing at 4.77% over the month.

    Analysts are in expectations that Magnolia Oil & Gas Corporation (MGY) stock would likely to be making an EPS of $0.04 in the current quarter, while forecast for next quarter ESPS is $0.09 and it is $0.58 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.01 which is $0.08 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.05 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -82.60% while it is estimated to increase by 272.70% in next year.

    Analysts at 15 brokerage firms have issued recommendations for the Magnolia Oil & Gas Corporation (MGY)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.50. Out of those 15 Wall Street analysts, 8 recommended a “Buy” rating, while 7 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

    Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Goldman on August 13, 2020 offering a Buy rating for the stock and assigned a target price of $8 to it. Coverage by Seaport Global Securities stated Magnolia Oil & Gas Corporation (MGY) stock as a Neutral in their note to investors on July 27, 2020, suggesting a price target of for the stock. On May 07, 2020, Scotiabank Initiated their recommendations, while on April 17, 2020, Imperial Capital Downgrade their ratings for the stock with a price target of $5. Stock get an Equal weight rating from Barclays on March 24, 2020.


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