Magnolia Oil & Gas (NYSE:MGY) Price Target Cut to $19.00 by Analysts at Citigroup

Magnolia Oil & Gas (NYSE:MGY) had its price target lowered by analysts at Citigroup from $22.00 to $19.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “sell” rating on the stock. Citigroup’s price objective would suggest a potential downside of 3.35% from the stock’s previous close.

A number of other research firms also recently weighed in on MGY. Bank of America reiterated a “neutral” rating and issued a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a research report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their target price on Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Truist Financial upped their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Mizuho raised their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $27.54.

Magnolia Oil & Gas Stock Performance

NYSE:MGY traded down $0.90 during mid-day trading on Tuesday, hitting $19.66. 3,938,987 shares of the stock were exchanged, compared to its average volume of 2,791,680. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. The firm’s 50-day simple moving average is $23.81 and its 200 day simple moving average is $25.05. Magnolia Oil & Gas has a fifty-two week low of $19.35 and a fifty-two week high of $29.02. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The company had revenue of $326.61 million during the quarter, compared to analysts’ expectations of $327.40 million. As a group, equities analysts anticipate that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Insider Buying and Selling at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros purchased 2,500 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were bought at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the acquisition, the chief executive officer now owns 892,372 shares in the company, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Magnolia Oil & Gas

Hedge funds have recently made changes to their positions in the stock. Mather Group LLC. increased its position in Magnolia Oil & Gas by 100.0% during the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock valued at $25,000 after purchasing an additional 545 shares during the period. Larson Financial Group LLC increased its position in shares of Magnolia Oil & Gas by 112.3% during the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock worth $25,000 after buying an additional 567 shares during the period. R Squared Ltd bought a new position in Magnolia Oil & Gas during the fourth quarter worth $43,000. Quarry LP lifted its holdings in Magnolia Oil & Gas by 1,047.8% in the fourth quarter. Quarry LP now owns 2,135 shares of the company’s stock valued at $50,000 after buying an additional 1,949 shares during the period. Finally, Avior Wealth Management LLC boosted its position in Magnolia Oil & Gas by 30.0% during the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock valued at $51,000 after acquiring an additional 506 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Company Profile

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.