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Magnolia: Energy Play

Sep. 28, 2021 3:20 PM ETMagnolia Oil & Gas Corporation (MGY)
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  • 100% technical buy signals.
  • 11 new highs and up 18.89% in the last month.
  • 220.36% gain in the last year.

The Barchart Chart of the Day belongs to the petroleum producer 

Magnolia Oil & Gas (MGY).   I found the company by sorting Barchart's All Time High list first by the highest number of new highs in the last month, then used the Flipchart function to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy on 8/30 the stock gained 16.17%. 

Image result for magnolia oil and gas logo

Magnolia Oil & Gas Corporation engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. The company's properties are located primarily in Karnes County and the Giddings Field in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation. As of December 31, 2020, its assets consisted of a total leasehold position of 460,398 net acres, including 23,513 net acres in Karnes, Gonzales, DeWitt, and Atascosa counties, Texas; 436,885 net acres in the Giddings Field located in Austin, Brazos, Burleson, Fayette, Lee, Grimes, Montgomery, and Washington Counties, Texas; and approximately 1,160 net wells with a total production capacity of 61.8 thousand barrels of oil equivalent per day. The company is headquartered in Houston, Texas.

Magnolia Oil & Gas Corporation

Nine Greenway PlazaSuite 1300Houston, TX 77046United States713 842 9050http://www.magnoliaoilgas.com


Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.

Barchart technical indicators:

  • 100% technical buy signals
  • 205.33+ Weighted Alpha
  • 220.36% gain in the last year
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 11 new highs and up 18.89% in the last month
  • Relative Strength Index 65.29%
  • Technical support level at 17.13
  • Recently traded at 17.99 with a 50 day moving average of 15.04

Fundamental factors:

  • Market Cap $4.22 billion
  • P/E 14.45
  • Dividend yield 1.02%
  • Revenue expected to grow 88.60% this year and another 3.90% next year
  • Earnings estimated to increase 10,800.00% (not a typo) this year and continue to compound at an annual rate of 46.69% for the next 5 years
  • Wall Street analysts issued 8 strong buy and 2 hold recommendations on the stock
  • The experts on TipRanks gave the stock a 10 out of 10 rating
  • 2,020 investors are monitoring the stock on Seeking Alpha

The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stock are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.

Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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