Magnolia Oil & Gas (NYSE:MGY) Price Target Raised to $31.00

Magnolia Oil & Gas (NYSE:MGY) had its price objective increased by equities researchers at Susquehanna from $28.00 to $31.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna’s target price points to a potential upside of 19.28% from the company’s previous close.

A number of other equities analysts have also recently commented on MGY. The Goldman Sachs Group lifted their price target on Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Piper Sandler reissued a “neutral” rating and set a $29.00 target price on shares of Magnolia Oil & Gas in a research note on Friday, April 19th. Mizuho boosted their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. Truist Financial boosted their target price on Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, Wells Fargo & Company boosted their target price on Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Magnolia Oil & Gas currently has an average rating of “Hold” and a consensus price target of $27.63.

Magnolia Oil & Gas Price Performance

Shares of Magnolia Oil & Gas stock opened at $25.99 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.88 and a quick ratio of 1.88. The business’s 50 day simple moving average is $24.38 and its two-hundred day simple moving average is $22.45. The stock has a market capitalization of $5.31 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 1.58 and a beta of 2.05. Magnolia Oil & Gas has a one year low of $18.72 and a one year high of $27.33.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The company had revenue of $322.63 million during the quarter, compared to analysts’ expectations of $324.95 million. Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. Analysts forecast that Magnolia Oil & Gas will post 2.08 EPS for the current year.

Institutional Investors Weigh In On Magnolia Oil & Gas

Hedge funds have recently made changes to their positions in the company. Mather Group LLC. bought a new stake in shares of Magnolia Oil & Gas during the first quarter valued at approximately $27,000. Private Wealth Management Group LLC bought a new stake in Magnolia Oil & Gas in the fourth quarter worth $33,000. VisionPoint Advisory Group LLC boosted its holdings in Magnolia Oil & Gas by 112.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after acquiring an additional 813 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in Magnolia Oil & Gas by 40.4% in the fourth quarter. Quadrant Capital Group LLC now owns 4,623 shares of the company’s stock worth $98,000 after acquiring an additional 1,331 shares in the last quarter. Finally, Arlington Trust Co LLC bought a new stake in Magnolia Oil & Gas in the fourth quarter worth $113,000. 94.73% of the stock is currently owned by institutional investors.

About Magnolia Oil & Gas

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.