The price-to-earnings ratio for Magnolia Oil & Gas Corp (NYSE: MGY) is 12.68x, which is above its average ratio. Moreover, the 36-month beta value for MGY is 2.00. Analysts have varying opinions on the stock, with 3 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for MGY is 181.35M and currently, short sellers hold a 16.40% of that float. On September 24, 2024, MGY’s average trading volume was 1.98M shares.
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MGY) stock’s latest price update
The stock of Magnolia Oil & Gas Corp (NYSE: MGY) has decreased by -1.75 when compared to last closing price of 26.28. Despite this, the company has experienced a 3.99% gain in its stock price over the last five trading sessions. zacks.com reported 2024-08-30 that Magnolia Oil & Gas Corp (MGY) reported earnings 30 days ago. What’s next for the stock?
MGY’s Market Performance
Magnolia Oil & Gas Corp (MGY) has experienced a 3.99% rise in stock performance for the past week, with a 2.02% rise in the past month, and a 1.89% rise in the past quarter. The volatility ratio for the week is 2.96%, and the volatility levels for the past 30 days are at 2.35% for MGY. The simple moving average for the last 20 days is 4.55% for MGY stock, with a simple moving average of 7.63% for the last 200 days.
Analysts’ Opinion of MGY
Many brokerage firms have already submitted their reports for MGY stocks, with Wolfe Research repeating the rating for MGY by listing it as a “Outperform.” The predicted price for MGY in the upcoming period, according to Wolfe Research is $32 based on the research report published on July 18, 2024 of the current year 2024.
Piper Sandler, on the other hand, stated in their research note that they expect to see MGY reach a price target of $29. The rating they have provided for MGY stocks is “Neutral” according to the report published on April 19th, 2024.
BofA Securities gave a rating of “Buy” to MGY, setting the target price at $25 in the report published on February 27th of the current year.
MGY Trading at 2.57% 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 -6.55% of loss for the given period.
Volatility was left at 2.35%, however, over the last 30 days, the volatility rate increased by 2.96%, as shares surge +0.31% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -4.80% lower at present.
During the last 5 trading sessions, MGY rose by +3.95%, which changed the moving average for the period of 200-days by +26.89% in comparison to the 20-day moving average, which settled at $24.70. In addition, Magnolia Oil & Gas Corp saw 21.28% 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 EnerVest Energy Institutional, who proposed sale 644,724 shares at the price of $25.91 back on Sep 23 ’24. After this action, EnerVest Energy Institutional now owns shares of Magnolia Oil & Gas Corp, valued at $16,704,799 using the latest closing price.
EnerVest Energy Institutional, the Director of Magnolia Oil & Gas Corp, proposed sale 624,974 shares at $25.91 during a trade that took place back on Sep 23 ’24, which means that EnerVest Energy Institutional is holding shares at $16,193,076 based on the most recent closing price.
Stock Fundamentals for MGY
Current profitability levels for the company are sitting at:
- 0.42 for the present operating margin
- 0.58 for the gross margin
The net margin for Magnolia Oil & Gas Corp stands at 0.29. The total capital return value is set at 0.22. Equity return is now at value 21.81, with 13.92 for asset returns.
Based on Magnolia Oil & Gas Corp (MGY), the company’s capital structure generated 0.18 points at debt to capital in total, while cash flow to debt ratio is standing at 2.32. The debt to equity ratio resting at 0.22. The interest coverage ratio of the stock is 206.25.
Currently, EBITDA for the company is 879.05 million with net debt to EBITDA at 0.13. When we switch over and look at the enterprise to sales, we see a ratio of 3.84. The receivables turnover for the company is 7.38for trailing twelve months and the total asset turnover is 0.46. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.28.
Conclusion
To wrap up, the performance of Magnolia Oil & Gas Corp (MGY) has been better in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
