Magnolia Oil & Gas Corp (NYSE:MGY) saw an upside of 2.80% to $23.32 after adding $0.64 on Wednesday. The 5-day average trading volume is 1,358,385 shares of the company’s common stock. It has gained $23.26 in the past week and touched a new high 5 times within the past 5 days. An average of 1,625,476 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,853,552.
MGY’s 1-month performance is 2.98% or $0.80 on its low of $22.19 reached on 09/22/23. The company’s shares have touched a 52-week low of $18.18 and high of $27.57, with the stock’s rally to the 52-week high happening on 01/17/23. YTD, MGY has lost -0.58% or -$0.20 and has reached a new high 3 times. However, the current price is down -15.43% from the 52-week high price.
Insider Transactions
MGY stock investors last saw insider trading activity on Sep 12.Walker John B (Director) most recently sold 7,500,000 shares at $24.26 per share on Nov 08. This transaction cost the insider $181,950,000. Director, EnerVest, Ltd., sold 7,500,000 shares at a price of $24.26 on Nov 08.
Valuation Metrics
MGY stock has a beta of 2.08. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.44 while the price-to-book (PB) in the most recent quarter is 2.99, with the price to cash flow ratio at 10.01.
Magnolia Oil & Gas Corp’s quick ratio for the period ended June 29 was 3.10, with the current ratio over the same period at 3.10. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.24, while the total debt to equity was 0.24. In terms of profitability, the gross margin trailing 12 months is 65.41%. The trailing 12-month EBITDA margin is 77.91% while for the period ending June 29, Magnolia Oil & Gas Corp’s operating margin was 54.46%. The firm’s gross profit as reported stood at $1.63 billion against revenue of $1.69 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -173.89% to $91.49 million, while revenue of $96.34 million was -5.3% off the previous quarter. Analysts expected MGY to announce $0.42 per share in earnings in its latest quarter, but it posted $0.51, representing a 21.40% surprise. EBITDA for the quarter stood at more than $199.4 million. MGY stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 756.86 million, with total debt at $391.59 million. Shareholders hold equity totaling $209.73 million.
Let’s look briefly at Magnolia Oil & Gas Corp (MGY) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 26 September was 59.72% to suggest the stock is trending Neutral, with historical volatility in this time period at 20.27%.
The stock’s 5-day moving average is $22.63, reflecting a +3.49% or $0.78 change from its current price. MGY is currently trading +1.51% above its 20-day SMA, +22.91% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +10.84% and SMA200 by+3.45%.
Stochastic %K and %D was 38.70% and 23.25% and the average true range (ATR) pointed at 0.55. The RSI (14) points at 56.89%, while the 14-day stochastic is at 61.56% with the period’s ATR at 0.56. The stock’s 9-day MACD Oscillator is pointing at 0.15 and -0.05 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Magnolia Oil & Gas Corp (NYSE: MGY), Mizuho downgraded it to a Neutral rating. They previously had a Buy rating on the stock.
