Magnolia Oil & Gas (NYSE:MGY) Given New $31.00 Price Target at Susquehanna

Magnolia Oil & Gas (NYSE:MGYGet Free Report) had its price target lifted by research analysts at Susquehanna from $28.00 to $31.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s target price would suggest a potential upside of 21.00% from the company’s previous close.

A number of other brokerages have also recently issued reports on MGY. Bank of America began coverage on shares of Magnolia Oil & Gas in a report on Tuesday, February 27th. They issued a “buy” rating and a $25.00 price objective for the company. Mizuho upped their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, March 14th. Piper Sandler restated a “neutral” rating and set a $29.00 price target on shares of Magnolia Oil & Gas in a report on Friday. Citigroup upped their price target on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a report on Monday, April 15th. Finally, Wells Fargo & Company upped their price target on shares of Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Magnolia Oil & Gas presently has a consensus rating of “Hold” and an average target price of $27.63.

View Our Latest Stock Analysis on MGY

Magnolia Oil & Gas Trading Down 0.2 %

Shares of NYSE:MGY opened at $25.62 on Monday. The stock has a market capitalization of $5.23 billion, a PE ratio of 12.50, a P/E/G ratio of 1.58 and a beta of 2.05. Magnolia Oil & Gas has a 1 year low of $18.72 and a 1 year high of $27.33. The firm has a fifty day moving average price of $24.17 and a 200 day moving average price of $22.39. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.21.

Magnolia Oil & Gas (NYSE:MGYGet Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The business had revenue of $322.63 million during the quarter, compared to the consensus estimate of $324.95 million. Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. Analysts expect that Magnolia Oil & Gas will post 2.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Magnolia Oil & Gas

Hedge funds have recently made changes to their positions in the stock. Advisor Group Holdings Inc. raised its position in Magnolia Oil & Gas by 121.9% in the first quarter. Advisor Group Holdings Inc. now owns 16,774 shares of the company’s stock worth $396,000 after purchasing an additional 9,214 shares in the last quarter. Bank of New York Mellon Corp raised its position in Magnolia Oil & Gas by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 1,118,918 shares of the company’s stock worth $26,462,000 after purchasing an additional 39,115 shares in the last quarter. Acadian Asset Management LLC raised its position in Magnolia Oil & Gas by 320.2% in the first quarter. Acadian Asset Management LLC now owns 10,686 shares of the company’s stock worth $252,000 after purchasing an additional 8,143 shares in the last quarter. MetLife Investment Management LLC raised its position in Magnolia Oil & Gas by 55.1% in the first quarter. MetLife Investment Management LLC now owns 77,409 shares of the company’s stock worth $1,831,000 after purchasing an additional 27,498 shares in the last quarter. Finally, Panagora Asset Management Inc. acquired a new position in Magnolia Oil & Gas in the first quarter worth about $1,084,000. Institutional investors own 94.73% of the company’s stock.

About Magnolia Oil & Gas

(Get Free Report)

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.

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Analyst Recommendations for Magnolia Oil & Gas (NYSE:MGY)

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