Magnolia Oil & Gas Corp (NYSE:MGY) finished Friday with a subtraction of -$0.29 to close at $22.91, a downside of -1.25 percent. An average of 1,926,900 shares of common stock have been traded in the last five days. There was a gain of $0.66 in the past week, and it reached a new high 14 times over the past 12 months. The last 20 days have seen an average of 1,825,945 shares traded, while the 50-day average volume stands at 1,884,706.
MGY stock has increased by 0.09% in the last month. The company shares reached their 1-month lowest point of $22.19 on 09/22/23. With the stock rallying to its 52-week high on 01/17/23, shares of the company touched a low of $18.72 and a high of $27.57 in 52 weeks. It has reached a new high 3 times so far this year and lost -2.30% or -$0.54 in price. In spite of this, the price is down -16.90% from the 52-week high.
Insider Transactions
MGY stock investors should be aware that Magnolia Oil & Gas Corp (MGY) stock had its last reported insider trading activity 326 days ago on Sep 12. In this transaction, the insider spent $181,950,000. Director, EnerVest, Ltd., disposed of 7,500,000 shares at a price of $24.26 on Nov 08. The insider now owns more than $181,950,000 worth of shares.
Valuation Metrics
Magnolia Oil & Gas Corp (MGY) has a trailing price-to-earnings (P/E) ratio of 6.61. The stock’s beta is 2.08. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.38, the price-to-book (PB) ratio at 2.94, and the price-to-cash flow ratio at 9.83.
The company has a payout ratio of 8.49%. The company’s most recent quarterly dividend payment was $0.1150 a share, without any change from last year. Its latest increase dividend $0.0150 reported on Tuesday January 31 2023.
Financial Health
The quick ratio of Magnolia Oil & Gas Corp for the three months ended June 29 was 3.10, and the current ratio was 3.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.24 and a total debt to equity ratio of 0.24 for the quarter ending June 29. Its gross profit as reported stood at $1.63 billion compared to revenue of $1.69 billion.
Earnings Surprise
For the three-month period that ended June 29, Magnolia Oil & Gas Corp had $391.59 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $91.49 million in the quarter, while revenues of $96.34 million were shrunk -173.89%. The analyst consensus anticipated Magnolia Oil & Gas Corp’s latest quarter earnings to come in at $0.42 per share, but it turned out to be $0.51, a 21.40% surprise. For the quarter, EBITDA amounted to $199.4 million. Shareholders own equity worth $209.73 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Magnolia Oil & Gas Corp (MGY) price momentum. RSI 9-day as of the close on 29 September was 49.74%, suggesting the stock is Neutral, with historical volatility in this time frame at 28.65%.
As of today, MGY’s price is $23.02 +2.97% or $0.66 from its 5-day moving average. MGY is currently trading +0.48% higher than its 20-day SMA and +15.07% higher than its 100-day SMA. However, the stock’s current price level is +8.73% above the SMA50 and +0.70% above the SMA200.
The stochastic %K and %D were 62.31% and 55.28%, respectively, and the average true range (ATR) was 0.61. With the 14-day stochastic at 42.99% and the average true range at 0.60, the RSI (14) stands at 50.76%. The stock has reached 0.48 on the 9-day MACD Oscillator while the 14-day reading was at 0.34.
Analyst Ratings
Mizuho downgraded Magnolia Oil & Gas Corp (NYSE: MGY) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Buy.
