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

Magnolia Oil & Gas (NYSE:MGY) had its price target raised by equities researchers at Piper Sandler from $26.00 to $28.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price objective would indicate a potential downside of 4.24% from the stock’s previous close.

Several other research firms also recently commented on MGY. Weiss Ratings reissued a “hold (c)” rating on shares of Magnolia Oil & Gas in a research note on Thursday, January 22nd. Zacks Research raised shares of Magnolia Oil & Gas from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. KeyCorp increased their target price on shares of Magnolia Oil & Gas from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Bank of America upgraded shares of Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $26.00 to $28.00 in a research report on Friday, January 16th. Finally, Susquehanna lowered their price target on shares of Magnolia Oil & Gas from $30.00 to $28.00 and set a “positive” rating for the company in a research note on Monday, January 26th. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $28.18.

Magnolia Oil & Gas Price Performance

Shares of Magnolia Oil & Gas stock opened at $29.24 on Thursday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $5.45 billion, a PE ratio of 17.00 and a beta of 0.89. The business’s 50-day moving average price is $25.04 and its 200-day moving average price is $23.87. Magnolia Oil & Gas has a 12 month low of $19.09 and a 12 month high of $29.69.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $317.63 million for the quarter, compared to analysts’ expectations of $322.18 million. Magnolia Oil & Gas had a return on equity of 16.67% and a net margin of 24.79%.Magnolia Oil & Gas’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the firm posted $0.44 EPS. Sell-side analysts forecast that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Institutional Trading of Magnolia Oil & Gas

Large investors have recently modified their holdings of the business. Lido Advisors LLC raised its position in Magnolia Oil & Gas by 2.4% during the 4th quarter. Lido Advisors LLC now owns 16,197 shares of the company’s stock valued at $382,000 after purchasing an additional 387 shares during the last quarter. Oak Family Advisors LLC lifted its holdings in Magnolia Oil & Gas by 0.9% in the 4th quarter. Oak Family Advisors LLC now owns 47,620 shares of the company’s stock worth $1,042,000 after buying an additional 410 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Magnolia Oil & Gas by 10.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,624 shares of the company’s stock worth $102,000 after buying an additional 422 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Magnolia Oil & Gas by 8.0% during the fourth quarter. GAMMA Investing LLC now owns 6,130 shares of the company’s stock valued at $134,000 after buying an additional 453 shares during the period. Finally, Coldstream Capital Management Inc. increased its stake in shares of Magnolia Oil & Gas by 3.1% during the third quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company’s stock valued at $380,000 after buying an additional 482 shares during the period. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).