Magnolia Oil & Gas Corporation (MGY): Great Progress On All Fronts?

The stock of Magnolia Oil & Gas Corporation (NYSE:MGY) has been Initiated to Overweight by Barclays in its latest research note that was published on August 30. MGY was given a price target of $13, with other Wall Street analysts also giving their reports regarding the stock. Piper Jaffray, analysts launched coverage of MGY stock with a Overweight rating, according to their flash note to investors on July 08.

Magnolia Oil & Gas Corporation, which has current market capitalization of above $3 Billion, published its last quarter earnings on June 30, 2019.

MGY declined by $-0.01 during the normal trading session on Thursday and reaching a high of $10.93 during the day while it closed the day at $10.78. The Magnolia stock had a low trading volume of 1.06 million shares on that day, which is low compared to the average daily volume of 1.64M shares. MGY has also gained 4.26% of its value over the past 7 days. However, the stock has declined by 0.74% in the 3 months of the year. Over the past six months meanwhile, it has lost 14.44% while it has lost 3.84% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -10.32% from its 3 months high price. However, taking another look at MGY will indicate that it is trading +16.35% away from its 90-day low. Looking at the bigger picture, the Magnolia Oil & Gas Corporation stock has dropped by -29.22% from its 52-week high while it has surged by +16.35% from its 52-week low price.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 66.74%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 69.51%. Over the past 20 days, Magnolia’s Stochastic %K stood at 80.47% while its Stochastic %D was revealed to be 85.89%.