why Magnolia Oil & Gas Corp [MGY] is a Good Choice for Investors After New Price Target of $24.27

Magnolia Oil & Gas Corp [NYSE: MGY] jumped around 0.26 points on Thursday, while shares priced at $20.48 at the close of the session, up 1.29%. The company report on February 6, 2024 at 7:00 AM that Magnolia Oil & Gas Corporation Appoints David Khani to its Board of Directors.

Magnolia Oil & Gas Corporation (“Magnolia,” “we,” “our,” or the “Company”) (NYSE: MGY) today announced that its board of directors (the “Board”) has increased the size of the Board from seven to eight directors and has appointed David Khani as an independent director of the Board, effective immediately. Mr. Khani will serve as a member of the Audit Committee.

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“We are very honored to welcome Dave to our Board of Directors,” said Dan Smith, Chairman of the Board. “Dave’s deep industry knowledge and experience across the energy and natural resources spectrum, coupled with his financial and capital markets expertise, will be a valuable asset to Magnolia and our shareholders.”.

Compared to the average trading volume of 2.12M shares, MGY reached a trading volume of 2776575 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 0.52, with the Price to Sales ratio for MGY stock in the period of the last 12 months amounting to 3.38. The Price to Book ratio for the last quarter was 2.55, 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 17.01 with Quick ratio for the last quarter at 2.65.

How has MGY stock performed recently?

Magnolia Oil & Gas Corp [MGY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.29. With this latest performance, MGY shares dropped by -0.44% in over the last four-week period, additionally sinking by -11.72% over the last 6 months – not to mention a drop of -12.59% 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 49.13, with the RSI for the last a single of trading hit 51.46, and the three-weeks RSI is set at 47.88 for Magnolia Oil & Gas Corp [MGY]. The present Moving Average for the last 50 days of trading for this stock 20.87, while it was recorded at 20.16 for the last single week of trading, and 21.41 for the last 200 days.

Magnolia Oil & Gas Corp [MGY]: Deeper insight into the 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.

Earnings analysis for Magnolia Oil & Gas Corp [MGY]

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%.

Insider trade positions for Magnolia Oil & Gas Corp [MGY]

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%.