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 $55,138 were purchased by Stavros Christopher G on Mar 03 ’25. At $22.05 per share, Stavros Christopher G acquired 2,500 shares. The insider’s holdings grew to 892,372 shares worth approximately $20.14 million following the completion of this transaction.
Also, Millican Steve purchased 195,293 shares, netting a total of over 4,714,373 in proceeds.
Before that, EnerVest, Ltd. 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 $47.38 million.
As published in a research note from Goldman on January 31, 2025, Magnolia Oil & Gas Corp [MGY] has been rated down from a Buy to a Neutral and the price target has been revised to $26 from $27. Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid January. As of October 15, 2024, Siebert Williams Shank has decreased its “Buy” rating to a “Hold” for MGY. Earlier on October 01, 2024, Wells Fargo downgraded its rating. Their new recommendation was “an Underweight” for MGY stock which previously was a “an Equal weight”.
Analyzing MGY Stock Performance
During the last five days, there has been a drop of approximately -3.67%. Over the course of the year, Magnolia Oil & Gas Corp shares have dropped approximately -3.46%. Shares of the company reached a 52-week high of $26.84 on 01/17/25 and a 52-week low of $21.63 on 03/04/25. A 50-day SMA is recorded $24.06, while a 200-day SMA reached $25.21.
Support And Resistance Levels for Magnolia Oil & Gas Corp (MGY)
According to the 24-hour chart, there is a support level at 21.95, which, if violated, would cause prices to drop to 21.33. In the upper region, resistance lies at 22.90. The next price resistance is at 23.22. RSI (Relative Strength Index) is 38.20 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.99, which suggests the price will decrease in the coming days. Percent R is at 75.20%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
