At the last check on Thursday, Magnolia Oil & Gas Corporation’s (NYSE:MGY) stock was down -$0.1, moving down -0.45 percent to $22.37. The average number of shares traded per day over the past five days has been 2,040,962 shares. 1 time new highs have been achieved over the past 5 days, with a -$1.00 fall in that time frame. In the last twenty days, the average volume was 1,546,040, while in the previous 50 days, it was 1,962,356.
Since last month, MGY stock retreated -0.36%. Shares of the company fell to $21.98 on 08/24/23, the lowest level in the past month. A 52-week high of $27.57 was reached on 01/17/23 after having rallying from a 52-week low of $18.17. Since the beginning of this year, MGY’s stock price has dropped by -4.61% or -$1.17, and marked a new high 3 times. However, the stock has declined by -18.86% since its 52-week high.
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MGY stock investors should be aware that Magnolia Oil & Gas Corporation (MGY) stock had its last reported insider trading activity 9 days ago on Sep 12. LARSON JAMES R, the Director of the company, purchased of 1,000 shares for $23.52 on Sep 12. It resulted in a $23,520 investment by the insider. Walker John B sold 7,500,000 shares at an average price of $24.26 on Nov 08. The insider now owns 8,296,077 shares following the transaction. On Nov 08, Director EnerVest, Ltd. sold 7,500,000 shares at $24.26 apiece. The transaction was valued at $181,950,000.
Valuation Metrics
Right now, Magnolia Oil & Gas Corporation (MGY) has a P/E ratio of about 6.40. The stock’s beta is 2.11. Besides these, the trailing price-to-sales (P/S) ratio of 3.34, the price-to-book (PB) ratio of 2.59, and the price-to-cash flow ratio of 7.68 may also be considered.
The latest dividend of $0.1150 per share was paid out, remained unchanged from last year’s $0.1150. On Tuesday January 31 2023, a $0.0150 dividend increase was announced.
Financial Health
In the three months ended June 29, Magnolia Oil & Gas Corporation’s quick ratio stood at 3.10, while its current ratio was 3.10, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.24, and the total debt-to-equity ratio was 0.24. On the profitability front, the trailing twelve-month gross margin is 85.60% percent. In the year ended June 29, operating margins totaled 53.40%. Based on annual data, MGY earned $1.63 billion in gross profit and brought in $1.69 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 54.20%. Return on equity (ROE) for the past 12 months was 43.70%.
In Magnolia Oil & Gas Corporation’s quarter-end financial report for June 29, it reported total debt of $391.59 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. MGY’s revenue fell -72.91% to $308.38 million during the quarter, while net income inched up to $280.29 million. While analysts expected Magnolia Oil & Gas Corporation to report $0.42 quarterly earnings, the actual figure was $0.51 per share, beating the consensus estimate by 21.40%. During the quarter, the company generated $199.4 million in EBITDA. The liabilities of Magnolia Oil & Gas Corporation were 756.86 million at the end of its most recent quarter ended June 29, and its total debt was $391.59 million. The value of shareholders’ equity is $209.73 million.
Technical Picture
This quick technical analysis looks at Magnolia Oil & Gas Corporation’s (MGY) price momentum. With a historical volatility rate of 23.07%, the RSI 9-day stood at 34.70% on 20 September.
With respect to its five-day moving average, the current Magnolia Oil & Gas Corporation price is down by -4.30% percent or -$1.00. At present, MGY shares trade +0.22% above its 20-day simple moving average and +5.49% percent above its 100-day simple moving average. However, the stock is currently trading approximately +3.34% above its SMA50 and -13.54% below its SMA200.
Stochastic coefficient K was 6.94% and Stochastic coefficient D was 17.28%, while ATR was 0.57. Given the Stochastic reading of 4.66% for the 14-day period, the RSI (14) reading has been calculated as 41.99%. As of today, the MACD Oscillator reading stands at -0.39, while the 14-day reading stands at -0.61.
Analyst Ratings
Magnolia Oil & Gas Corporation downgraded its rating on Magnolia Oil & Gas Corporation (NYSE: MGY) to a Neutral in a note to investors on August 16, 2023. The analysts firm previously had a Buy rating on the stock.Magnolia Oil & Gas Corporation (MGY) has been rated Overweight by analysts. According to 0 brokerage firms, MGY is a sell, and 7 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Magnolia Oil & Gas Corporation stock as buy, with 8 recommending it as overweight.
With a median target price of $26.00, the current consensus forecast for the stock is $23.00 – $32.00. Based on these forecasts, analysts predict Magnolia Oil & Gas Corporation (MGY) will achieve an average price target of $26.69.
