Magnolia Oil & Gas (NYSE:MGY) Price Target Raised to $26.00

Magnolia Oil & Gas (NYSE:MGY) had its price target increased by Piper Sandler from $24.00 to $26.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts have also recently commented on MGY. Truist Financial increased their target price on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Bank of America reiterated a “neutral” rating and set a $28.00 price objective (down previously from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Mizuho boosted their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Siebert Williams Shank downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research report on Tuesday, October 15th. Finally, Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Magnolia Oil & Gas presently has a consensus rating of “Hold” and an average target price of $27.75.

Magnolia Oil & Gas Price Performance

MGY opened at $24.81 on Wednesday. The company has a fifty day simple moving average of $25.33 and a 200 day simple moving average of $25.51. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. The stock has a market cap of $4.88 billion, a P/E ratio of 12.28, a P/E/G ratio of 3.26 and a beta of 2.00. Magnolia Oil & Gas has a 12 month low of $19.53 and a 12 month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. The company had revenue of $333.14 million during the quarter, compared to the consensus estimate of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. On average, research analysts expect that Magnolia Oil & Gas will post 1.98 EPS for the current year.

Institutional Trading of Magnolia Oil & Gas

Several hedge funds have recently added to or reduced their stakes in MGY. Hsbc Holdings PLC bought a new position in shares of Magnolia Oil & Gas during the second quarter worth approximately $262,000. Bank of Montreal Can lifted its holdings in shares of Magnolia Oil & Gas by 1.8% in the second quarter. Bank of Montreal Can now owns 36,716 shares of the company’s stock worth $931,000 after acquiring an additional 640 shares during the last quarter. Squarepoint Ops LLC lifted its stake in Magnolia Oil & Gas by 60.9% in the 2nd quarter. Squarepoint Ops LLC now owns 139,639 shares of the company’s stock valued at $3,538,000 after purchasing an additional 52,829 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Magnolia Oil & Gas by 25.8% in the 2nd quarter. AQR Capital Management LLC now owns 20,832 shares of the company’s stock valued at $528,000 after acquiring an additional 4,276 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Magnolia Oil & Gas during the second quarter valued at about $442,000. 94.73% of the stock is owned by institutional investors and hedge funds.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.