In yesterday’s Wall Street session, Magnolia Oil & Gas Corp (NYSE:MGY) shares traded at $23.86, down -0.71% from the previous session.
MGY stock price is now 11.74% away from the 50-day moving average and 9.95% away from the 200-day moving average. The market capitalization of the company currently stands at $4.87B.
With the price target of $25, BofA Securities recently initiated with Buy rating for Magnolia Oil & Gas Corp (NYSE: MGY). On December 11, 2023, Citigroup Downgraded its previous ‘Neutral’ rating to ‘Sell’ on the stock reducing its target price from $24 to quote $18, while ‘Wells Fargo’ rates the stock as ‘Equal Weight’
In other news, LARSON JAMES R, Director bought 1,000 shares of the company’s stock on Sep 12 ’23. The stock was bought for $23,520 at an average price of $23.52. Upon completion of the transaction, the Director now directly owns 76,671 shares in the company, valued at $1.83 million. A total of 16.28% of the company’s stock is owned by insiders.
During the past 12 months, Magnolia Oil & Gas Corp has had a low of $18.72 and a high of $24.34. As of last week, the company has a debt-to-equity ratio of 0.24, a current ratio of 1.88, and a quick ratio of 1.88. The fifty day moving average price for MGY is $21.40 and a two-hundred day moving average price translates $21.72 for the stock.
The latest earnings results from Magnolia Oil & Gas Corp (NYSE: MGY) was released for Dec, 2023. According to the Oil & Gas E&P Company, earnings per share came in at $0.52, missing analysts’ expectations of $0.53 by -0.01. This compares to $1.34 EPS in the same period last year. The net profit margin was 31.29% and return on equity was 23.50% for MGY. The company reported revenue of $322.63 million for the quarter, compared to $349.04 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -7.57 percent. For the current quarter, analysts expect MGY to generate $307.34M in revenue.
