The stock price of Magnolia Oil & Gas Corp (NYSE: MGY) has surged by 2.23 when compared to previous closing price of 25.11, but the company has seen a -2.91% decline in its stock price over the last five trading sessions. CNBC Television reported 2024-04-01 that Neil Mehta, Goldman Sachs managing director, joins ‘Money Movers’ to discuss his thoughts on the oil sector, the major oil companies, and more.
Is It Worth Investing in Magnolia Oil & Gas Corp (NYSE: MGY) Right Now?
Magnolia Oil & Gas Corp (NYSE: MGY) has a price-to-earnings ratio of 12.59x that is above its average ratio. Additionally, the 36-month beta value for MGY is 2.02. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for MGY is 171.53M and currently, short sellers hold a 18.89% ratio of that float. The average trading volume of MGY on May 07, 2024 was 3.42M shares.
MGY’s Market Performance
MGY stock saw a decrease of -2.91% in the past week, with a monthly decline of -4.86% and a quarterly a decrease of 29.19%. The volatility ratio for the week is 2.67%, and the volatility levels for the last 30 days are 2.25% for Magnolia Oil & Gas Corp (MGY). The simple moving average for the last 20 days is -1.17% for MGY stock, with a simple moving average of 13.47% for the last 200 days.
Analysts’ Opinion of MGY
Many brokerage firms have already submitted their reports for MGY stocks, with Piper Sandler repeating the rating for MGY by listing it as a “Neutral.” The predicted price for MGY in the upcoming period, according to Piper Sandler is $29 based on the research report published on April 19, 2024 of the current year 2024.
BofA Securities, on the other hand, stated in their research note that they expect to see MGY reach a price target of $25. The rating they have provided for MGY stocks is “Buy” according to the report published on February 27th, 2024.
Citigroup gave a rating of “Sell” to MGY, setting the target price at $18 in the report published on December 11th of the previous year.
MGY Trading at 2.83% from the 50-Day Moving Average
After a stumble in the market that brought MGY to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -6.07% of loss for the given period.
Volatility was left at 2.25%, however, over the last 30 days, the volatility rate increased by 2.67%, as shares sank -3.57% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +17.54% upper at present.
During the last 5 trading sessions, MGY fell by -2.91%, which changed the moving average for the period of 200-days by +21.83% in comparison to the 20-day moving average, which settled at $25.93. In addition, Magnolia Oil & Gas Corp saw 20.57% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MGY starting from LARSON JAMES R, who purchase 1,000 shares at the price of $23.52 back on Sep 12 ’23. After this action, LARSON JAMES R now owns 76,671 shares of Magnolia Oil & Gas Corp, valued at $23,520 using the latest closing price.
Stock Fundamentals for MGY
Current profitability levels for the company are sitting at:
- 0.44 for the present operating margin
- 0.65 for the gross margin
The net margin for Magnolia Oil & Gas Corp stands at 0.32. The total capital return value is set at 0.22. Equity return is now at value 23.50, with 14.41 for asset returns.
Based on Magnolia Oil & Gas Corp (MGY), the company’s capital structure generated 0.19 points at debt to capital in total, while cash flow to debt ratio is standing at 2.13. The debt to equity ratio resting at 0.24. The interest coverage ratio of the stock is 173.82.
Currently, EBITDA for the company is 879.05 million with net debt to EBITDA at 0.01. When we switch over and look at the enterprise to sales, we see a ratio of 3.82. The receivables turnover for the company is 6.47for trailing twelve months and the total asset turnover is 0.45. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.88.
Conclusion
In conclusion, Magnolia Oil & Gas Corp (MGY) has seen mixed performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
