Magnolia Oil & Gas Corp (MGY) concluded trading on Thursday at a closing price of $24.03, with 2.95 million shares of worth about $70.91 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 4.25% during that period and on March 14, 2024 the price saw a loss of about -0.25%. Currently the company’s common shares owned by public are about 183.16M shares, out of which, 171.01M shares are available for trading.
Stock saw a price change of 1.09% in past 5 days and over the past one month there was a price change of 18.14%. Year-to-date (YTD), MGY shares are showing a performance of 12.87% which increased to 17.28% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $18.72 but also hit the highest price of $24.31 during that period. The average intraday trading volume for Magnolia Oil & Gas Corp shares is 2.71 million. The stock is currently trading 6.41% above its 20-day simple moving average (SMA20), while that difference is up 12.80% for SMA50 and it goes to 10.84% higher than SMA200.
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Magnolia Oil & Gas Corp (NYSE: MGY) currently have 183.16M outstanding shares and institutions hold larger chunk of about 92.70% of that.
The stock has a current market capitalization of $4.91B and its 3Y-monthly beta is at 2.04. PE ratio of stock for trailing 12 months is 11.78, while it has posted earnings per share of $2.04 in the same period. It has Quick Ratio of 1.88 while making debt-to-equity ratio of 0.24. 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 1.80% while standing at 2.24% over the month.
Analysts are in expectations that Magnolia Oil & Gas Corp (MGY) stock would likely to be making an EPS of $0.46 in the current quarter, while forecast for next quarter EPS is $0.49 and it is $2.31 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.38 which is $0.56 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 $0.56 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 0.01% while it is estimated to increase by 12.99% in next year. EPS is likely to shrink at an annualized rate of -9.83% for next 5-years, compared to annual growth of 14.59% made by the stock over the past 5-years.
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 BofA Securities on February 27, 2024 offering a Buy rating for the stock and assigned a target price of $25 to it. Coverage by Citigroup stated Magnolia Oil & Gas Corp (MGY) stock as a Sell in their note to investors on December 11, 2023, suggesting a price target of $18 for the stock. On November 15, 2023, Wells Fargo Initiated their recommendations, while on August 16, 2023, Mizuho Downgrade their ratings for the stock with a price target of $25. Stock get a Sector weight rating from KeyBanc Capital Markets on August 10, 2023.
