Magnolia Oil & Gas Corp [NYSE: MGY] plunged by -$0.06 during the normal trading session on while it closed the day at $24.03. The company report on March 1, 2024 at 6:47 PM that Super Micro Computer and Deckers Outdoor Set to Join S&P 500; Others to Join S&P 100, S&P MidCap 400 and S&P SmallCap 600.
S&P Dow Jones Indices (“S&P DJI”) will make the following changes to the S&P 500, S&P 100, S&P MidCap 400, and S&P SmallCap 600 indices effective prior to the open of trading on Monday, March 18, to coincide with the quarterly rebalance. The changes ensure each index is more representative of its market capitalization range. All companies being added to the S&P 500 are more representative of the large-cap market space, all companies being added to the S&P MidCap 400 are more representative of the mid-cap market space, and all companies being added to the S&P SmallCap 600 are more representative of the small-cap market space. The companies being removed from the S&P SmallCap 600 are no longer representative of the small-cap market space.
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S&P MidCap 400 constituents Super Micro Computer Inc. (NASD: SMCI) and Deckers Outdoor Corp. (NYSE: DECK) will replace Whirlpool Corp. (NYSE: WHR) and Zions Bancorporation N.A. (NASD: ZION) in the S&P 500 respectively, and Whirlpool and Zions Bancorporation will replace Super Micro Computer and Deckers Outdoor in the S&P MidCap 400, respectively.
Magnolia Oil & Gas Corp stock has also gained 1.09% of its value over the past 7 days. However, MGY stock has inclined by 17.28% in the 3 months of the year. Over the past six months meanwhile, it has gained 4.25% and gained 12.87% year-on date.
The market cap for MGY stock reached $4.91 billion, with 183.16 million shares outstanding and 171.01 million shares in the current float. Compared to the average trading volume of 2.71M shares, MGY reached a trading volume of 2951055 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Magnolia Oil & Gas Corp [MGY]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MGY shares is $24.89 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 2.12. 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.
BofA Securities have made an estimate for Magnolia Oil & Gas Corp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 27, 2024. While these analysts kept the previous recommendation, Citigroup dropped their target price from $24 to $18. The new note on the price target was released on December 11, 2023, representing the official price target for Magnolia Oil & Gas Corp stock. Previously, the target price had yet another raise to $23, while Wells Fargo analysts kept a Equal Weight rating on MGY stock. On August 16, 2023, analysts decreased their price target for MGY shares from 28 to 25.
The Average True Range (ATR) for Magnolia Oil & Gas Corp is set at 0.53, with the Price to Sales ratio for MGY stock in the period of the last 12 months amounting to 4.00. The Price to Book ratio for the last quarter was 2.91, with the Price to Cash per share for the same quarter was set at 1.96. Price to Free Cash Flow for MGY in the course of the last twelve months was 117.97 with Quick ratio for the last quarter at 1.88.
MGY stock trade performance evaluation
Magnolia Oil & Gas Corp [MGY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.09. With this latest performance, MGY shares gained by 18.14% in over the last four-week period, additionally plugging by 4.25% over the last 6 months – not to mention a rise of 17.28% 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 75.44, with the RSI for the last a single of trading hit 79.62, and the three-weeks RSI is set at 70.44 for Magnolia Oil & Gas Corp [MGY]. The present Moving Average for the last 50 days of trading for this stock 21.35, while it was recorded at 23.86 for the last single week of trading, and 21.70 for the last 200 days.
Magnolia Oil & Gas Corp [MGY]: An insightful look at the core fundamentals
Magnolia Oil & Gas Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.88 and a Current Ratio set at 1.88.
Earnings per share (EPS) analysis for Magnolia Oil & Gas Corp [MGY] stock
With the latest financial reports released by the company, Magnolia Oil & Gas Corp posted 0.56/share EPS, while the average EPS was predicted by analysts to be reported at 0.54/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 3.70%. 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 Corp go to -9.83%.
Magnolia Oil & Gas Corp [MGY]: Institutional Ownership
The top three institutional holders of MGY stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MGY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MGY stock with ownership which is approximately 5.8325%.
