Magnolia Oil & Gas (NYSE:MGY) Price Target Raised to $28.00

Magnolia Oil & Gas (NYSE:MGY) had its target price raised by equities research analysts at Mizuho from $27.00 to $28.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s price objective would indicate a potential upside of 13.13% from the stock’s previous close.

Several other research firms have also recently weighed in on MGY. Truist Financial boosted their price objective on Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Siebert Williams Shank cut shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a report on Tuesday, October 15th. Wells Fargo & Company lowered Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $26.00 to $22.00 in a report on Tuesday, October 1st. Finally, Susquehanna dropped their price target on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $27.75.

Magnolia Oil & Gas Stock Down 2.3 %

Shares of NYSE MGY traded down $0.59 during trading on Monday, hitting $24.75. The stock had a trading volume of 380,933 shares, compared to its average volume of 2,428,172. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a fifty day moving average of $26.60 and a two-hundred day moving average of $25.65. Magnolia Oil & Gas has a 12 month low of $19.16 and a 12 month high of $29.02. The company has a market capitalization of $4.86 billion, a PE ratio of 12.26, a PEG ratio of 1.29 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. The firm had revenue of $333.14 million for the quarter, compared to analysts’ expectations of $331.45 million. As a group, equities research analysts forecast that Magnolia Oil & Gas will post 2 EPS for the current fiscal year.

Insider Activity at Magnolia Oil & Gas

In related news, Director Ltd. Enervest sold 7,000,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the completion of the transaction, the director now directly owns 2,099,403 shares in the company, valued at $54,290,561.58. The trade was a 76.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Institutional Trading of Magnolia Oil & Gas

Large investors have recently modified their holdings of the business. American Century Companies Inc. lifted its position in Magnolia Oil & Gas by 9.9% during the second quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock valued at $237,927,000 after purchasing an additional 847,542 shares during the last quarter. Soros Fund Management LLC bought a new stake in shares of Magnolia Oil & Gas during the 3rd quarter worth $18,120,000. Barclays PLC grew its position in Magnolia Oil & Gas by 62.5% in the third quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock worth $40,383,000 after acquiring an additional 636,049 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Magnolia Oil & Gas by 16.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock valued at $114,554,000 after acquiring an additional 627,933 shares during the last quarter. Finally, SIR Capital Management L.P. purchased a new stake in Magnolia Oil & Gas during the second quarter valued at about $15,106,000. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.