Magnolia Oil & Gas Corporation [MGY] Stock Looks Poised to Climb Further

Magnolia Oil & Gas Corporation [MGY] shares are down more than -36.32% this year and recently increased 0.01% or $0.08 to settle at $7.41. Analysts expect MGY to grow earnings at a 46.69% annual rate over the next 5 years. MGY has a short ratio of 10.59. This implies that the market is currently less bullish on the outlook for MGY.

On 6, November 2020, Magnolia Oil & Gas Corp. to Host Earnings Call. According to news published on Yahoo Finance, NEW YORK, NY / ACCESSWIRE / November 6, 2020 / Magnolia Oil & Gas Corp. (NYSE:MGY) will be discussing their earnings results in their 2020 Third Quarter Earnings call to be held on November 6, 2020 at 11:00 AM Eastern Time.

Analyst Birdseye View:

The most recent analyst activity for Magnolia Oil & Gas Corporation [NYSE:MGY] stock was on November 06, 2020, when it was Upgrade with an Outperform rating from Northland Capital. Before that, on November 30, 2020, MKM Partners Recapitulated a Neutral rating and elevated its amount target to $7. On August 27, 2020, Barclays Upgrade an Overweight rating and boosted its price target on this stock to $8. On August 13, 2020, Goldman Initiated a Buy rating and increased its price target to $8. On July 27, 2020, Seaport Global Securities Initiated a Neutral rating. On May 07, 2020, Scotiabank Initiated a Sector outperform rating and boosted its amount on this stock to $7.50. On April 17, 2020, Imperial Capital Downgrade an In-line rating and decreased its target amount on this stock from $14 to $5.

In the past 52 weeks of trading, this stock has oscillated between a low of $3.23 and a peak of $13.28. Right now, according to Wall Street analyst the average 12-month amount target is $7.62. At the most recent market close, shares of Magnolia Oil & Gas Corporation [NYSE:MGY] were valued at $7.41. According to the average price forecast, investors can expect a potential return of -1.87%.

FUNDAMENTAL ANALYSIS

Magnolia Oil & Gas Corporation [NYSE:MGY] most recently reported quarterly sales of 121.07 billion, which represented growth of -50.50%. This publicly-traded organization’s revenue is $20,803,156 per employee, while its income is $1,115,467 per employee. This company’s Gross Margin is currently 81.50%, its Pretax Margin is +10.66, and its Net Margin is +5.36. Continuing to look at profitability, this corporation’s Return on Assets, Equity, Whole Principal & invested Principal is sitting at 1.45, 2.91, 4.11 and 2.37 respectively.

The Principal structure of this organization shows its whole liability to whole principal at 18.15 and the whole liability to whole assets at 11.36. It shows enduring liability to the whole principal at 18.03 and enduring liability to assets at 0.11 while looking for an extended time period.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 7.16 points at 1st support level, the second support level is making up to 6.99. But as of 1st resistance point, this stock is sitting at 7.49 and at 7.65 for 2nd resistance point.

Magnolia Oil & Gas Corporation [MGY] reported its earnings at $0.06 per share in the fiscal quarter closing of 9/29/2020. The Analysts for Wall Street were expecting to report its earnings at $0.07/share signifying the difference of -0.01 and -14.30% surprise value. Comparing the previous quarter ending of 6/29/2020, the stated earnings were -$0.08 calling estimates for -$0.06/share with the difference of -0.02 depicting the surprise of -33.30%.

Important Ratio’s To Watch

Meanwhile, turning our focus to liquidity, the Current Ratio for Magnolia Oil & Gas Corporation [NYSE:MGY] is 1.70. Likewise, the Quick ratio is also the same, showing Cash ratio at 1.04. Now if looking for a valuation of this stock’s amount to sales ratio it’s 2.24 and it’s amount to book ratio is 1.79.

Insider Stories

The most recent insider trade was by CHAZEN STEPHEN I, Chairman, President & CEO, and it was the purchase of 40000.0 shares on Nov 19. CHAZEN STEPHEN I, the Chairman, President & CEO, completed a purchase of 35000.0 shares on Sep 22. On Jun 26, CHAZEN STEPHEN I, Chairman, President & CEO, completed a purchase of 10000.0 shares.