Market Analysts see Magnolia Oil & Gas Corp [MGY] falling to $18. Time to buy?

Magnolia Oil & Gas Corp [NYSE: MGY] traded at a high on Wednesday, posting a 0.39 gain after which it closed the day’ session at $20.42. The company report on February 14, 2024 at 4:01 PM that Magnolia Oil & Gas Corporation Announces 2023 Fourth Quarter and Year End Results.

Magnolia Oil & Gas Corporation (“Magnolia,” “we,” “our,” or the “Company”) (NYSE: MGY) today announced its financial and operational results for the fourth quarter and full year 2023.

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The results of the trading session contributed to over 4657509 shares changing hands. Over the past one week, the price volatility of Magnolia Oil & Gas Corp stands at 2.10% while the volatility over the past one month is 2.36%.

The market cap for MGY stock reached $4.23 billion, with 192.04 million shares outstanding and 174.59 million shares in the current float. Compared to the average trading volume of 2.17M shares, MGY reached a trading volume of 4657509 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 $24.12 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 3.37. 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.

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 0.99. With this latest performance, MGY shares gained by 2.82% in over the last four-week period, additionally sinking by -9.96% over the last 6 months – not to mention a drop of -11.49% 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 48.56, with the RSI for the last a single of trading hit 49.76, and the three-weeks RSI is set at 47.69 for Magnolia Oil & Gas Corp [MGY]. The present Moving Average for the last 50 days of trading for this stock 20.78, while it was recorded at 20.46 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%.