MGY Stock Summary and Trading Ideas (Magnolia Oil & Gas Class A | NYSE:MGY)

Magnolia Oil & Gas Corp is an independent oil and natural gas company engaged in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquid (NGL) reserves. The Company's oil and natural gas properties are located in Karnes County and the Giddings area in South Texas, where the Company targets the Eagle Ford Shale and Austin Chalk formations. Its objective is to generate stock market value over the long term through consistent organic production growth, high full-cycle operating margins, and an efficient capital program with short economic paybacks. The company's operating segment is acquisition, development, exploration, and production of oil and natural gas properties located in the United States.

Magnolia Oil & Gas Class A trades on the NYSE stock market under the symbol MGY.

As of April 24, 2024, MGY stock price climbed to $26.11 with 1,613,783 million shares trading.

MGY has a beta of 0.66, meaning it tends to be less sensitive to market movements. MGY has a correlation of 0.08 to the broad based SPY ETF.

MGY has a market cap of $4.76 billion. This is considered a Mid Cap stock.

Last quarter Magnolia Oil & Gas Class A reported $323 million in Revenue and $.52 earnings per share. This fell short of revenue expectation by $-3 million and missed earnings estimates by -$.01.

In the last 3 years, MGY stock traded as high as $30.31 and as low as $10.67.

The top ETF exchange traded funds that MGY belongs to (by Net Assets): IJR, RDVY, VTI, VB, IWM.

MGY has outperformed the market in the last year with a price return of +24.6% while the SPY ETF gained +24.2%. MGY has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +32.3% and -2.0%, respectively, while the SPY returned +4.6% and -2.7%, respectively.

MGY support price is $25.61 and resistance is $26.37 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MGY stock will trade within this expected range on the day.