On Thursday, Magnolia Oil & Gas stock got an upgrade to its Relative Strength (RS) Rating, from 69 to 72.
IBD's proprietary RS Rating measures market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research shows that the market's biggest winners often have an RS Rating of above 80 in the early stages of their moves. See if Magnolia Oil & Gas stock can continue to rebound and clear that threshold.
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Is Magnolia Oil & Gas Stock A Buy?
Magnolia Oil & Gas stock is building a flat base with a 27.33 entry. See if the energy stock can clear the breakout price in heavy trade. Note that it's a fifth-stage base. Later-stage patterns can work, but have a higher likelihood of failure since, by that point, the stock has already risen significantly..
Top and bottom line growth moved higher last quarter. Earnings were up -13%, compared to -41% in the prior report. Revenue increased from -8% to 4%. Look for the next report on or around Jul. 31.
Magnolia Oil & Gas stock earns the No. 9 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. LandBridge, Viper Energy and Diamondback Energy are among the top 5 highly rated stocks within the group.
