Magnolia Oil & Gas Corp’s recent filing unveils 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 $60.44 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.
Siebert Williams Shank downgraded its Magnolia Oil & Gas Corp [MGY] rating to a Hold from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who decreased its forecast for the stock in early October from “an Equal weight” to “an Underweight”. Wolfe Research began covering MGY with “an Outperform” recommendation on July 18, 2024. Piper Sandler revised its rating on April 19, 2024. It rated MGY as “a Neutral” which previously was an “an Overweight”.
Price Performance Review of MGY
On Friday, Magnolia Oil & Gas Corp [NYSE:MGY] saw its stock jump 1.98% to $28.79. Over the last five days, the stock has gained 7.23%. Magnolia Oil & Gas Corp shares have risen nearly 35.23% since the year began. Nevertheless, the stocks have risen 34.47% over the past one year. While a 52-week high of $28.32 was reached on 11/22/24, a 52-week low of $19.16 was recorded on 01/19/24. SMA at 50 days reached $26.14, while 200 days put it at $25.19.
Levels Of Support And Resistance For MGY Stock
The 24-hour chart illustrates a support level at 28.26, which if violated will result in even more drops to 27.73. On the upside, there is a resistance level at 29.17. A further resistance level may holdings at 29.55. The Relative Strength Index (RSI) on the 14-day chart is 68.55, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.92, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 6.46%. Stochastics %K at 94.09% 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 2024-10-31, growing by 1.71 million shares to a total of 30.43 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 28.72 million shares. There was a rise of 5.62%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on February 27, 2024 when BofA Securities began covering the stock and recommended ‘”a Buy”‘ rating along with a $25 price target.
