Magnolia Oil & Gas (NYSE:MGY) Price Target Increased to $27.00 by Analysts at Wells Fargo & Company

Magnolia Oil & Gas (NYSE:MGY) had its price objective boosted by research analysts at Wells Fargo & Company from $23.00 to $27.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 4.59% from the company’s current price.

MGY has been the topic of several other research reports. Mizuho upped their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. Citigroup increased their price target on Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a “sell” rating in a research report on Monday. The Goldman Sachs Group increased their price target on Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. Piper Sandler dropped their price target on Magnolia Oil & Gas from $30.00 to $29.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. Finally, Truist Financial increased their price target on Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Magnolia Oil & Gas has an average rating of “Hold” and a consensus price target of $27.14.

Magnolia Oil & Gas Stock Performance

NYSE:MGY opened at $25.82 on Thursday. The stock’s fifty day moving average is $23.96 and its 200 day moving average is $22.33. Magnolia Oil & Gas has a fifty-two week low of $18.72 and a fifty-two week high of $27.33. The firm has a market capitalization of $5.27 billion, a PE ratio of 12.59, a PEG ratio of 1.60 and a beta of 2.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.88 and a current ratio of 1.88.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 EPS for the quarter, missing the consensus estimate 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 net margin of 31.65% and a return on equity of 21.21%. On average, sell-side analysts anticipate that Magnolia Oil & Gas will post 2.08 earnings per share for the current year.

Institutional Investors Weigh In On Magnolia Oil & Gas

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mather Group LLC. acquired a new stake in Magnolia Oil & Gas in the first quarter valued at approximately $27,000. Private Wealth Management Group LLC acquired a new stake in shares of Magnolia Oil & Gas in the fourth quarter worth approximately $33,000. VisionPoint Advisory Group LLC lifted its position in Magnolia Oil & Gas by 112.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after buying an additional 813 shares in the last quarter. State of Wyoming lifted its position in Magnolia Oil & Gas by 38.8% during the second quarter. State of Wyoming now owns 2,552 shares of the company’s stock worth $53,000 after buying an additional 713 shares in the last quarter. Finally, KBC Group NV purchased a new stake in Magnolia Oil & Gas in the fourth quarter valued at $57,000. 94.73% of the stock is currently owned by hedge funds and other 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.