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MARKETS LIVE BLOG:

S&P 500, NASDAQ EXTEND GAINS AS NVIDIA SURGE CONTINUES

Nvidia stock up 3% in early trading; shares have climbed more than 170% so far this year

Why Magnolia Oil & Gas Corp (MGY) is a Top Momentum Stock for the Long-Term

Zacks Equity Research
·2 min read

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

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Magnolia Oil & Gas Corp (MGY)

Magnolia Oil & Gas is an independent upstream operator engaged in the exploration, development and production of natural gas, crude oil and natural gas liquids. Headquartered in Houston, TX, the firm is focused on the Eagle Ford Shale and Austin Chalk formations in South Texas.

MGY is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of A. Shares are down 0.6% over the past one week and up 1.4% over the past four weeks. MGY has gained 30.4% in the last one-year period as well. Looking at trading volume, an average of 2,572,900 shares exchanged hands over the last 20 trading days.

A company's earnings performance is important for momentum investors as well. For fiscal 2024, six analysts revised their earnings estimate higher in the last 60 days for MGY, while the Zacks Consensus Estimate has increased $0.22 to $2.23 per share. MGY also boasts an average earnings surprise of 2%.

MGY should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Magnolia Oil & Gas Corp (MGY) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research