MGY Price Prediction Next Week
Technical Analysis:
MGY's stock has shown a bearish trend in recent trading sessions, with the price declining from $24.73 to $24.04 on February 21st . The stock is currently testing its 200-day moving average support level, which could be significant for future price movement.
News Impact:
- Recent dividend increase: MGY announced a 15% increase in quarterly dividend to $0.15 per share (annualized $0.60), demonstrating strong financial health and commitment to shareholder returns.
- Goldman Sachs downgrade: The firm recently downgraded MGY to Neutral from Buy with a price target of $26, citing that the stock's outperformance already reflects its operational advantages.
Fundamental Factors:
- Strong operational performance in 2024:
- 9% total production growth
- 5% reduction in total shares outstanding
- Improved field-level cash operating costs
Price Prediction for Next Week:
Based on technical indicators and recent news:
- Support level: $23.50
- Resistance level: $24.75
- Expected trading range: $23.75-$24.50
Trading Recommendation: HOLD
Rationale:
- While fundamentals remain strong, the recent Goldman Sachs downgrade and technical weakness suggest limited upside potential in the near term
- The increased dividend provides some downside protection
- Wait for clearer technical signals before establishing new positions
The stock is likely to consolidate within the predicted range next week, with potential for slight downward pressure due to broader market sentiment and recent analyst actions.
MGY Similar Chart Price Prediction
The price of MGY is predicted to go up -7.13%, based on the high correlation periods with MTDR. The similarity of these two price pattern on the periods is 97.23%.
MGY
MTDR
Down: -7.13%Similarity: 97.23%
MGY Revenue Forecast
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MGY Analyst's Forecast
Umang Choudhary
Goldman Sachs
Strong Buy → Hold
2025-01-31
Price Target
$27 → $26
Upside
+9.7%
Goldman Sachs downgraded Magnolia Oil & Gas to Neutral from Buy with a price target of $26, down from $27. The firm views the catalyst pathway for Magnolia as largely played out. It estimates the company will maintain relatively flat production costs over the next two years as most of the larger, operational cost savings were captured with its cost savings initiative in early 2024. Without incremental catalysts for further efficiencies, share price outperformance is likely to remain more moderated relative to 2024, the analyst tells investors in a research note.
Neal Dingmann
Truist Securities
Strong Buy
2025-01-13
Price Target
$33 → $34
Upside
+33.6%
Noah Hungness
B of A Securities
Strong Buy → Hold
2025-01-13
Price Target
$29 → $28
Upside
+10.02%
