Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Magnolia Oil & Gas Corp shares valued at $4,714,373 were purchased by Millican Steve on Jan 08 ’25. At $24.14 per share, Millican Steve acquired 195,293 shares.
Also, EnerVest, Ltd. sold 7,000,000 shares, netting a total of over 181,020,000 in proceeds. Following the sale of shares at $25.86 each, the insider now holds 2,099,403 shares.
Before that, Walker John B had sold 7,000,000 shares from its account. In a trade valued at $181,020,000, the Director traded Magnolia Oil & Gas Corp shares for $25.86 each. Upon closing the transaction, the insider’s holdings decreased to 7,000,000 shares, worth approximately $50.97 million.
As published in a research note from Siebert Williams Shank on October 15, 2024, Magnolia Oil & Gas Corp [MGY] has been rated down from a Buy to a Hold and the price target has been revised to $30. Analysts at Wells Fargo downgraded the stock from ‘”an Equal weight”‘ to ‘”an Underweight”‘ outlook in a report released in early October. As of July 18, 2024, Wolfe Research has initiated its “an Outperform” rating for MGY. Earlier on April 19, 2024, Piper Sandler downgraded its rating. Their new recommendation was “a Neutral” for MGY stock which previously was a “an Overweight”.
Analyzing MGY Stock Performance
During the last five days, there has been a surge of approximately 3.85%. Over the course of the year, Magnolia Oil & Gas Corp shares have jumped approximately 3.85%. Shares of the company reached a 52-week high of $24.42 on 01/06/25 and a 52-week low of $23.47 on 01/02/25. A 50-day SMA is recorded $25.71, while a 200-day SMA reached $25.52. Nevertheless, trading volume fell to 2.16 million shares from 2.03 million shares the previous day.
Support And Resistance Levels for Magnolia Oil & Gas Corp (MGY)
According to the 24-hour chart, there is a support level at 23.96, which, if violated, would cause prices to drop to 23.64. In the upper region, resistance lies at 24.49. The next price resistance is at 24.70. RSI (Relative Strength Index) is 47.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.61, which suggests the price will decrease in the coming days. Percent R is at 11.52%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
