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

Magnolia Oil & Gas (NYSE:MGY) had its price objective increased by research analysts at Piper Sandler from $24.00 to $26.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 6.14% from the stock’s current price.

Other research analysts also recently issued reports about the company. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Mizuho upped their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Wells Fargo & Company lowered shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $26.00 to $22.00 in a research note on Tuesday, October 1st. Truist Financial increased their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Siebert Williams Shank lowered shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research note on Tuesday, October 15th. Two investment 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 MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $27.75.

Magnolia Oil & Gas Stock Down 1.2 %

NYSE:MGY opened at $24.50 on Wednesday. The firm has a 50-day simple moving average of $25.25 and a two-hundred day simple moving average of $25.50. The firm has a market cap of $4.81 billion, a P/E ratio of 12.13, a P/E/G ratio of 3.26 and a beta of 2.00. Magnolia Oil & Gas has a fifty-two week low of $19.53 and a fifty-two week high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $333.14 million during the quarter, compared to analyst estimates of $331.45 million. Analysts predict that Magnolia Oil & Gas will post 1.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MGY. FMR LLC raised its stake in Magnolia Oil & Gas by 174.9% during the 3rd quarter. FMR LLC now owns 34,851 shares of the company’s stock worth $851,000 after acquiring an additional 22,171 shares during the period. Oliver Luxxe Assets LLC increased its stake in shares of Magnolia Oil & Gas by 80.6% in the third quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company’s stock worth $2,140,000 after purchasing an additional 39,098 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Magnolia Oil & Gas during the 3rd quarter valued at $353,000. Intech Investment Management LLC purchased a new position in shares of Magnolia Oil & Gas during the 3rd quarter valued at $1,252,000. Finally, Citigroup Inc. boosted its holdings in Magnolia Oil & Gas by 30.6% in the 3rd quarter. Citigroup Inc. now owns 313,778 shares of the company’s stock worth $7,662,000 after buying an additional 73,431 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

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.