Magnolia Oil & Gas Corp’s filing revealed that its Director EnerVest, Ltd. unloaded Company’s shares for reported $181.02 million on Sep 23 ’24. In the deal valued at $25.86 per share,7,000,000 shares were sold. As a result of this transaction, EnerVest, Ltd. now holds 2,099,403 shares worth roughly $56.77 million.
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Then, Walker John B sold 7,000,000 shares, generating $181,020,000 in total proceeds. Upon selling the shares at $25.86, the Director now owns 2,099,403 shares.
Before that, EnerVest Energy Institutional bought 644,724 shares. Magnolia Oil & Gas Corp shares valued at $16,704,799 were divested by the Director at a price of $25.91 per share.
Wells Fargo downgraded its Magnolia Oil & Gas Corp [MGY] rating to an Underweight from a an Equal weight in a research note published on October 01, 2024; the price target was decreased to $22 from $26. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who began to cover the stock in mid July with a ‘”an Outperform”‘ rating. Piper Sandler also remained covering MGY and has decreased its forecast on April 19, 2024 with a “Neutral” recommendation from previously “an Overweight” rating. BofA Securities started covering the stock on February 27, 2024. It rated MGY as “a Buy”.
Price Performance Review of MGY
On Friday, Magnolia Oil & Gas Corp [NYSE:MGY] saw its stock jump 2.08% to $27.04. Over the last five days, the stock has gained 0.71%. Magnolia Oil & Gas Corp shares have risen nearly 27.01% since the year began. Nevertheless, the stocks have risen 19.49% over the past one year. While a 52-week high of $27.63 was reached on 08/01/24, a 52-week low of $19.16 was recorded on 01/19/24. SMA at 50 days reached $24.91, while 200 days put it at $24.29.
Levels Of Support And Resistance For MGY Stock
The 24-hour chart illustrates a support level at 26.46, which if violated will result in even more drops to 25.87. On the upside, there is a resistance level at 27.52. A further resistance level may holdings at 27.99. The Relative Strength Index (RSI) on the 14-day chart is 62.78, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.02, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 9.84%. Stochastics %K at 82.76% indicates the stock is a selling.
How much short interest is there in Magnolia Oil & Gas Corp?
A steep rise in short interest was recorded in Magnolia Oil & Gas Corp stocks on 2024-09-30, dropping by -1.02 million shares to a total of 28.72 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 29.74 million shares. There was a decline of -3.56%, which implies that there is a negative sentiment for the stock.
