Nothing is Better Than Magnolia Oil & Gas Corporation (MGY) stock at the moment

Magnolia Oil & Gas Corporation (NYSE: MGY) stock fell -3.12% on Tuesday to $23.30 against a previous-day closing price of $24.05. With 1.51 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.59 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $24.04 whereas the lowest price it dropped to was $23.28. The 52-week range on MGY shows that it touched its highest point at $30.31 and its lowest point at $18.01 during that stretch. It currently has a 1-year price target of $29.58. With its current market cap of 4.98 billion, MGY has annualized dividend of $0.20 while the current yield stands at 0.86%. Beta for the stock currently stands at 2.16.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MGY was down-trending over the past week, with a drop of -1.44%, but this was down by -0.43% over a month. Three-month performance dropped to -6.43% while six-month performance rose 3.60%. The stock gained 17.38% in the past year, while it has lost -0.64% so far this year. A look at the trailing 12-month EPS for MGY yields 4.36 with Next year EPS estimates of 3.26. For the next quarter, that number is 0.87. This implies an EPS growth rate of 132.70% for this year and -27.11% for next year. EPS is expected to grow by 12.63% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 87.25%.

Float and Shares Shorts:

At present, 188.63 million MGY shares are outstanding with a float of 169.78 million shares on hand for trading. On Oct 13, 2022, short shares totaled 16.4 million, which was 7.54% higher than short shares on Sep 14, 2022. In addition to Mr. Christopher G. Stavros as the firm’s CEO, CFO, Pres & Director, Mr. Steve F. Millican serves as its Sr. VP of Operations.

Institutional Ownership:

Through their ownership of 106.00% of MGY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 62.12% of MGY, in contrast to 36.24% held by mutual funds. Shares owned by individuals account for 17.41%. As the largest shareholder in MGY with 8.47% of the stake, The Vanguard Group, Inc. holds 15,884,071 shares worth 15,884,071. A second-largest stockholder of MGY, T. Rowe Price Investment Manageme, holds 15,665,195 shares, controlling over 8.36% of the firm’s shares. AllianceBernstein LP is the third largest shareholder in MGY, holding 10,974,454 shares or 5.85% stake. With a 2.74% stake in MGY, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 5,145,411 shares are owned by the mutual fund manager. The T Rowe Price Small Cap Value Fund, which owns about 2.34% of MGY stock, is the second-largest Mutual Fund holder. It holds 4,390,177 shares valued at 102.95 million. Vanguard Small Cap Index Fund holds 2.32% of the stake in MGY, owning 4,347,837 shares worth 101.96 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MGY since 16 analysts follow the stock currently. There are 9 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 6 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With MGY analysts setting a high price target of $35.00 and a low target of $25.00, the average target price over the next 12 months is $28.71. Based on these targets, MGY could surge 50.21% to reach the target high and rise by 7.3% to reach the target low. Reaching the average price target will result in a growth of 23.22% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. MGY will report FY 2022 earnings on 02/14/2024. Analysts have provided yearly estimates in a range of $4.60 being high and $4.19 being low. For MGY, this leads to a yearly average estimate of $4.36. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Magnolia Oil & Gas Corporation surprised analysts by $0.16 when it reported $1.29 EPS against a consensus estimate of $1.13. The surprise factor in the prior quarter was $0.15. Based on analyst estimates, the high estimate for the next quarter is $1.07 and the low estimate is $0.63. The average estimate for the next quarter is thus $0.80.

Summary of Insider Activity:

Insiders traded MGY stock several times over the past three months with 2 Buys and 0 Sells. In these transactions, 243 shares were bought while 0 shares were sold. The number of buy transactions has increased to 23 while that of sell transactions has risen to 9 over the past year. The total number of shares bought during that period was 473,108 while 158,676 shares were sold.

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