Magnolia Oil & Gas Corp (MGY) Stock Up 1.28%: Is It a Good Investment?

Magnolia Oil & Gas Corp [MGY] stock is trading at $24.57, up 1.28%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The MGY shares have gain 3.06% over the last week, with a monthly amount glided 14.71%, and seem to be holding up well over a long-time horizon.

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From an analyst’s perspective:

Magnolia Oil & Gas Corp [NYSE: MGY] stock has seen the most recent analyst activity on February 27, 2024, when BofA Securities initiated its Buy rating and assigned the stock a price target of $25. Previously, Citigroup downgraded its rating to Sell on December 11, 2023, and dropped its price target to $18. On November 15, 2023, Wells Fargo initiated with a Equal Weight rating and assigned a price target of $23 on the stock. Mizuho downgraded its rating to a Neutral and decreased its price target to $25 on August 16, 2023. KeyBanc Capital Markets downgraded its rating to a Sector Weight. Mizuho started tracking with a Buy rating for this stock on January 10, 2023, and assigned it a price target of $32. In a note dated September 20, 2022, KeyBanc Capital Markets initiated an Overweight rating and provided a target price of $28 on this stock.

Magnolia Oil & Gas Corp [MGY] stock has fluctuated between $18.72 and $24.34 over the past year. Currently, Wall Street analysts expect the stock to reach $26.79 within the next 12 months. Magnolia Oil & Gas Corp [NYSE: MGY] shares were valued at $24.57 at the most recent close of the market. An investor can expect a potential return of 9.04% based on the average MGY price forecast.

Analyzing the MGY fundamentals

Magnolia Oil & Gas Corp [NYSE:MGY] reported sales of 1.23B for the trailing twelve months, which represents a drop of -7.57%. Gross Profit Margin for this corporation currently stands at 0.65% with Operating Profit Margin at 0.44%, Pretax Profit Margin comes in at 0.45%, and Net Profit Margin reading is 0.32%. To continue investigating profitability, this company’s Return on Assets is posted at 0.14, Equity is 0.24 and Total Capital is 0.22. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.24.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 24.31 points at the first support level, and at 24.05 for the second support level. However, for the 1st resistance point, the stock is sitting at 24.76, and for the 2nd resistance point, it is at 24.94.

Magnolia Oil & Gas Corp [MGY] reported earnings per share of $0.52 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.53/share, meaning a difference of -$0.01 and a surprise factor of -1.90%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.54 per share as compared to estimates of $0.53 per share, a difference of $0.01 representing a surprise of 1.90%.

Ratios To Look Out For

For context, Magnolia Oil & Gas Corp’s Current Ratio is 1.88. Further, the Quick Ratio stands at 1.88, while the Cash Ratio is 1.27. Considering the valuation of this stock, the price to sales ratio is 4.09, the price to book ratio is 2.98 and price to earnings (TTM) ratio is 12.05.