Magnolia Oil & Gas Corporation [NYSE: MGY] loss -2.90% on the last trading session, reaching $22.11 price per share at the time. The company report on June 2, 2022 that Pricing of EnerVest Block Trade of 7,500,000 Shares of Class A Common Stock of Magnolia; Magnolia Agreement to Purchase 2,000,000 Shares of Class B Common Stock from EnerVest.
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Magnolia Oil & Gas Corporation (NYSE: MGY) (“Magnolia” or the “Company”) today announced the pricing of the previously announced underwritten block trade of 7,500,000 shares of the Company’s Class A common stock (the “Class A Common Stock”) by certain affiliates of EnerVest, Ltd. (the “Selling Stockholders”) resulting in total gross proceeds of $203.6 million (the “Offering”). The Offering is expected to close on or about June 6, 2022, subject to customary closing conditions. The Company will not sell any shares of its Class A Common Stock in the Offering or receive any proceeds from the Offering.
In connection with the Offering, the Company has agreed to purchase from the Selling Stockholders 2,000,000 shares of the Company’s Class B common stock at a price per share equal to the price per share at which the underwriter purchases shares of the Company’s Class A Common Stock in the Offering (the “Class B Common Stock Purchase”). The Offering is not conditioned upon the completion of the Class B Common Stock Purchase, but the Class B Common Stock Purchase is conditioned upon the completion of the Offering.
Magnolia Oil & Gas Corporation represents 182.58 million in outstanding shares, while the company has a total market value of $5.06 billion with the latest information. MGY stock price has been found in the range of $21.91 to $23.3094.
If compared to the average trading volume of 2.22M shares, MGY reached a trading volume of 3533652 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Magnolia Oil & Gas Corporation [MGY]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MGY shares is $30.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MGY stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wells Fargo have made an estimate for Magnolia Oil & Gas Corporation shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on January 05, 2022. The new note on the price target was released on December 07, 2021, representing the official price target for Magnolia Oil & Gas Corporation stock. On August 30, 2021, analysts increased their price target for MGY shares from 18 to 21.
The Average True Range (ATR) for Magnolia Oil & Gas Corporation is set at 1.43, with the Price to Sales ratio for MGY stock in the period of the last 12 months amounting to 4.05. The Price to Book ratio for the last quarter was 4.49, with the Price to Cash per share for the same quarter was set at 1.51. Price to Free Cash Flow for MGY in the course of the last twelve months was 8.56 with Quick ratio for the last quarter at 2.20.
Trading performance analysis for MGY stock
Magnolia Oil & Gas Corporation [MGY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.57. With this latest performance, MGY shares dropped by -21.62% in over the last four-week period, additionally plugging by 14.32% over the last 6 months – not to mention a rise of 44.60% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MGY stock in for the last two-week period is set at 37.44, with the RSI for the last a single of trading hit 34.17, and the three-weeks RSI is set at 40.59 for Magnolia Oil & Gas Corporation [MGY]. The present Moving Average for the last 50 days of trading for this stock 25.08, while it was recorded at 21.95 for the last single week of trading, and 21.90 for the last 200 days.
Magnolia Oil & Gas Corporation [MGY]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Magnolia Oil & Gas Corporation [MGY] shares currently have an operating margin of +55.88 and a Gross Margin at +68.04. Magnolia Oil & Gas Corporation’s Net Margin is presently recorded at +38.44.
Return on Equity for this stock inclined to 60.74, with Return on Assets sitting at 25.90.
Magnolia Oil & Gas Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.20.
Magnolia Oil & Gas Corporation [MGY]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MGY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Magnolia Oil & Gas Corporation go to 15.79%.
An analysis of insider ownership at Magnolia Oil & Gas Corporation [MGY]
There are presently around $4,304 million, in the hands of institutional investors. The top three institutional holders of MGY stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 21,966,339, which is approximately -0.422% of the company’s market cap and around 1.40% of the total institutional ownership; VANGUARD GROUP INC, holding 14,768,458 shares of the stock with an approximate value of $336.28 million in MGY stocks shares; and FMR LLC, currently with $312.82 million in MGY stock with ownership of nearly 12.468% of the company’s market capitalization.
Positions in Magnolia Oil & Gas Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 131 institutional holders increased their position in Magnolia Oil & Gas Corporation [NYSE:MGY] by around 17,604,456 shares. Additionally, 129 investors decreased positions by around 16,720,064 shares, while 28 investors held positions by with 154,690,232 shares. The mentioned changes placed institutional holdings at 189,014,752 shares, according to the latest SEC report filing. MGY stock had 50 new institutional investments in for a total of 4,382,134 shares, while 35 institutional investors sold positions of 1,935,211 shares during the same period.