Magnolia Oil & Gas Corporation [MGY] is 32.43% higher this YTD. Is it still time to buy?

Magnolia Oil & Gas Corporation [NYSE: MGY] loss -2.23% or -0.57 points to close at $24.99 with a heavy trading volume of 3693746 shares. The company report on November 1, 2022 that Magnolia Oil & Gas Corporation Announces Third Quarter 2022 Results.


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Magnolia Oil & Gas Corporation (“Magnolia,” “we,” “our,” or the “Company”) (NYSE: MGY) today announced its financial and operational results for the third quarter of 2022.

It opened the trading session at $26.00, the shares rose to $27.00 and dropped to $24.88, the range by which the price of stock traded the whole day. The daily chart for MGY points out that the company has recorded -1.85% loss over the past six months. However, it is still -45.04% lower than its most recent low trading price.

If we look at the average trading volume of 1.58M shares, MGY reached to a volume of 3693746 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Magnolia Oil & Gas Corporation [MGY]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MGY shares is $29.83 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MGY stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

KeyBanc Capital Markets have made an estimate for Magnolia Oil & Gas Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 20, 2022. While these analysts kept the previous recommendation, MKM Partners raised their target price to Buy. The new note on the price target was released on July 20, 2022, representing the official price target for Magnolia Oil & Gas Corporation stock. Previously, the target price had yet another raise to $23, while Wells Fargo analysts kept a Equal Weight rating on MGY stock.

The Average True Range (ATR) for Magnolia Oil & Gas Corporation is set at 1.19, with the Price to Sales ratio for MGY stock in the period of the last 12 months amounting to 3.70. The Price to Book ratio for the last quarter was 4.28, with the Price to Cash per share for the same quarter was set at 2.29. Price to Free Cash Flow for MGY in the course of the last twelve months was 7.68 with Quick ratio for the last quarter at 2.30.

Trading performance analysis for MGY stock

Magnolia Oil & Gas Corporation [MGY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.63. With this latest performance, MGY shares gained by 12.01% in over the last four-week period, additionally sinking by -1.85% over the last 6 months – not to mention a rise of 20.96% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MGY stock in for the last two-week period is set at 57.70, with the RSI for the last a single of trading hit 57.32, and the three-weeks RSI is set at 56.54 for Magnolia Oil & Gas Corporation [MGY]. The present Moving Average for the last 50 days of trading for this stock 22.97, while it was recorded at 25.25 for the last single week of trading, and 23.23 for the last 200 days.

Magnolia Oil & Gas Corporation [MGY]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Magnolia Oil & Gas Corporation [MGY] shares currently have an operating margin of +55.88 and a Gross Margin at +68.04. Magnolia Oil & Gas Corporation’s Net Margin is presently recorded at +38.44.

Return on Equity for this stock inclined to 60.74, with Return on Assets sitting at 25.90.

Magnolia Oil & Gas Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 2.30.

Magnolia Oil & Gas Corporation [MGY]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MGY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Magnolia Oil & Gas Corporation go to 12.05%.

An analysis of insider ownership at Magnolia Oil & Gas Corporation [MGY]

There are presently around $4,983 million, in the hands of institutional investors. The top three institutional holders of MGY stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 22,028,899, which is approximately 0.285% of the company’s market cap and around 1.40% of the total institutional ownership; VANGUARD GROUP INC, holding 16,147,375 shares of the stock with an approximate value of $403.52 million in MGY stocks shares; and FMR LLC, currently with $300.45 million in MGY stock with ownership of nearly -12.487% of the company’s market capitalization.

Positions in Magnolia Oil & Gas Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 172 institutional holders increased their position in Magnolia Oil & Gas Corporation [NYSE:MGY] by around 24,607,939 shares. Additionally, 116 investors decreased positions by around 16,014,315 shares, while 28 investors held positions by with 158,784,031 shares. The mentioned changes placed institutional holdings at 199,406,285 shares, according to the latest SEC report filing. MGY stock had 53 new institutional investments in for a total of 3,959,169 shares, while 24 institutional investors sold positions of 2,122,191 shares during the same period.

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