The stock of Magnolia Oil & Gas Corporation (NYSE:MGY) decreased by -$0.18 on Tuesday to finish at $22.68, down -0.79 percent. The last five days have seen an average of 2,018,220 shares of common stock traded. 3 times new highs were reached in the current year, with a fall of -$0.77. The average number of shares traded over the last 20 days was 2,348,280, while the average volume over the last 50 days totaled 2,242,166.
MGY stock appreciated 9.88% since last month. On 07/17/23, the company’s shares reached a one-month low of $20.30. The stock touched a high of $27.57 on 01/17/23, after rallying from a low of $18.17 in 52 weeks. The price of MGY stock has declined by -3.28% or -$0.77 this year, reaching a new high 3 times. Still, the stock price is down -17.74% from the 52-week high.
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Insider Transactions
MGY stock investors should be aware that Magnolia Oil & Gas Corporation (MGY) stock had its last reported insider trading activity 281 days ago on Nov 08. On Nov 08, Director Walker John B sold 7,500,000 shares at $24.26 each. This transaction resulted in the insider making $181,950,000. On Nov 08, EnerVest, Ltd. sold 7,500,000 shares at a price of US$24.26. After the transaction, the insider now owns 8,296,077 shares.
Valuation Metrics
Magnolia Oil & Gas Corporation (MGY) has a trailing price-to-earnings (P/E) ratio of 6.48. Beta for the stock is 2.11. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 3.35, the price-to-book (PB) ratio of 2.63, and the price-to-cash flow ratio of 7.70.
Company paid $0.1150 per share in dividends, remained unchanged from $0.1150 last year. A $0.0150 dividend increase was reported on Tuesday January 31 2023.
Financial Health
For the three months ended June 29, Magnolia Oil & Gas Corporation’s quick ratio was 3.10, while its current ratio was 3.10, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.24, and the total debt to equity ratio is 0.24. As far as profitability goes, gross margin for the trailing twelve months is 85.60% percent. Magnolia Oil & Gas Corporation’s EBITDA margin for the year ended June 29 was 77.91%, whereas its operating margin stood at 53.40% for the same period. Based on annual data, it had gross profit of $1.63 billion and revenue of $1.69 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. MGY’s return on assets (ROA) during the last 12 months has been 26.60%. There was a 54.20% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 43.70%.
Earnings Surprise
According to Magnolia Oil & Gas Corporation’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $280.29 million, while revenues fell by -72.91% to $308.38 million. It was predicted that Magnolia Oil & Gas Corporation’s quarterly earnings would be $0.51, but it ended up being $0.42, beating the consensus by 21.40%. EBITDA was $199.4 million for the quarter. At the end of Magnolia Oil & Gas Corporation’s most recent quarter ended June 29, its liabilities totaled 756.86 million, while its total debt was $391.59 million. Equity owned by shareholders amounts to $209.73 million.
Technical Picture
Here’s a quick look at Magnolia Oil & Gas Corporation’s (MGY) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 57.37%, suggesting the stock is Neutral, with a 26.46% historical volatility rate.
The stochastic %K and %D were 66.42% and 68.21% respectively, while the average true range (ATR) was 0.64. Based on the 14-day stochastic reading of 63.50%, the RSI (14) reading is 59.07%. On the 9-day MACD Oscillator, the stock is at -0.16, and the 14-day reading is at 0.20.
Analyst Ratings
Magnolia Oil & Gas Corporation (NYSE: MGY) was downgraded by KeyBanc Capital Markets to a a Sector weight rating in its latest research report. The stock was previously rated as a an Overweight. Analysts have assigned Magnolia Oil & Gas Corporation (MGY) an Overweight rating. MGY is a stock that is recommended for selling by 0 brokerage firms, while 6 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 9 others recommend it as a buy.
What is MGY’s price target for the next 12 months?
The current consensus forecast for the stock is between $22.00 and $30.00, with a median target price of $26.00. In analyzing these forecasts, the average price target given by analysts for Magnolia Oil & Gas Corporation (MGY) is $25.85.
