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

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

Other analysts have also recently issued research reports about the company. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Bank of America restated a “neutral” rating and set a $28.00 price objective (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Mizuho increased their target price on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Truist Financial upped their price objective on 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, 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 note on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.58.

Magnolia Oil & Gas Price Performance

Shares of Magnolia Oil & Gas stock opened at $23.71 on Wednesday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas has a 1-year low of $19.53 and a 1-year high of $29.02. The firm has a fifty day simple moving average of $25.15 and a 200-day simple moving average of $25.48. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 3.12 and a beta of 2.00.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new position in shares of Magnolia Oil & Gas in the third quarter valued at about $25,000. First Horizon Advisors Inc. grew its position in shares of Magnolia Oil & Gas by 64.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after purchasing an additional 396 shares in the last quarter. Mather Group LLC. increased its holdings in shares of Magnolia Oil & Gas by 100.0% during the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock worth $25,000 after purchasing an additional 545 shares during the period. R Squared Ltd bought a new position in Magnolia Oil & Gas during the 4th quarter worth $43,000. Finally, Avior Wealth Management LLC raised its holdings in Magnolia Oil & Gas by 30.0% in the 4th 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 in the last quarter. Institutional investors own 94.73% of the company’s stock.

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.