Magnolia Oil & Gas Corp [NYSE: MGY] stock went on a downward path that fall over -0.97% on Thursday, amounting to a one-week price decrease of less than -2.25%. The company report on January 11, 2024 at 8:00 AM that Magnolia Oil & Gas Schedules Conference Call for Fourth Quarter and Full Year 2023 Results.
Magnolia Oil & Gas Corporation (NYSE: MGY) will host a conference call and webcast to discuss operational and financial results for the fourth quarter and full year 2023 on Thursday, February 15 at 10:00 a.m. Central Time (11:00 a.m. Eastern Time).
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Join the webcast by visiting Magnolia’s website at www.magnoliaoilgas.com/investors/events-and-presentations and clicking on the webcast link or by dialing 1-844-701-1059. Materials related to Magnolia’s fourth quarter and full year 2023 financial results to be discussed during the webcast will be made available in the Investors section of the website prior to the call. The company will post a replay of the webcast on its website following the call.
Over the last 12 months, MGY stock dropped by -13.51%. The one-year Magnolia Oil & Gas Corp stock forecast points to a potential upside of 15.86. The average equity rating for MGY stock is currently 2.19, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $4.23 billion, with 192.04 million shares outstanding and 174.60 million shares in the current float. Compared to the average trading volume of 2.12M shares, MGY stock reached a trading volume of 3254597 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Magnolia Oil & Gas Corp [MGY]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MGY shares is $24.27 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 2.19. 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.
Citigroup have made an estimate for Magnolia Oil & Gas Corp shares, keeping their opinion on the stock as Sell, with their previous recommendation back on December 11, 2023.
The Average True Range (ATR) for Magnolia Oil & Gas Corp is set at 0.55, with the Price to Sales ratio for MGY stock in the period of the last 12 months amounting to 3.37. The Price to Book ratio for the last quarter was 2.54, with the Price to Cash per share for the same quarter was set at 2.99. Price to Free Cash Flow for MGY in the course of the last twelve months was 16.96 with Quick ratio for the last quarter at 2.65.
MGY Stock Performance Analysis:
Magnolia Oil & Gas Corp [MGY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.25. With this latest performance, MGY shares dropped by -4.98% in over the last four-week period, additionally sinking by -7.43% over the last 6 months – not to mention a drop of -13.51% 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 46.21, with the RSI for the last a single of trading hit 46.19, and the three-weeks RSI is set at 46.01 for Magnolia Oil & Gas Corp [MGY]. The present Moving Average for the last 50 days of trading for this stock 21.01, while it was recorded at 20.89 for the last single week of trading, and 21.46 for the last 200 days.
Insight into Magnolia Oil & Gas Corp Fundamentals:
Magnolia Oil & Gas Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.65 and a Current Ratio set at 2.65.
MGY Stock EPS
With the latest financial reports released by the company, Magnolia Oil & Gas Corp posted 1.2/share EPS, while the average EPS was predicted by analysts to be reported at 0.77/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 55.80%. 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 Corp go to -9.83%.
Magnolia Oil & Gas Corp [MGY] Institutonal Ownership Details
The top three institutional holders of MGY stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MGY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MGY stock with ownership which is approximately 5.8325%.
