Magnolia Oil & Gas (NYSE:MGY) Stock Price Expected to Rise, Truist Financial Analyst Says

Magnolia Oil & Gas (NYSE:MGY) had its price target upped by investment analysts at Truist Financial from $33.00 to $34.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 33.60% from the company’s current price.

Several other equities research analysts also recently weighed in on MGY. Bank of America restated a “neutral” rating and issued a $28.00 target price (down from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Mizuho raised their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Piper Sandler dropped their target price on shares of Magnolia Oil & Gas from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company lowered shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $26.00 to $22.00 in a research report on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $27.58.

Magnolia Oil & Gas Stock Up 2.3 %

Shares of NYSE MGY traded up $0.57 during midday trading on Monday, reaching $25.45. 109,723 shares of the company’s stock traded hands, compared to its average volume of 1,682,298. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. The stock’s 50 day simple moving average is $25.64 and its 200-day simple moving average is $25.50. Magnolia Oil & Gas has a one year low of $19.16 and a one year high of $29.02. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 1.29 and a beta of 2.00.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $333.14 million for the quarter, compared to the consensus estimate of $331.45 million. On average, analysts predict that Magnolia Oil & Gas will post 2 EPS for the current fiscal year.

Institutional Investors Weigh In On Magnolia Oil & Gas

Large investors have recently added to or reduced their stakes in the business. Soros Fund Management LLC acquired a new position in Magnolia Oil & Gas during the 3rd quarter worth approximately $18,120,000. Barclays PLC boosted its holdings in shares of Magnolia Oil & Gas by 62.5% in the 3rd quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock valued at $40,383,000 after buying an additional 636,049 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Magnolia Oil & Gas by 16.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock valued at $114,554,000 after buying an additional 627,933 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new position in shares of Magnolia Oil & Gas in the 2nd quarter valued at $14,201,000. Finally, State Street Corp boosted its holdings in shares of Magnolia Oil & Gas by 4.2% in the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company’s stock valued at $261,300,000 after buying an additional 435,326 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Company Profile

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.