Magnolia Oil & Gas (NYSE:MGY) Now Covered by Analysts at Truist Financial

Analysts at Truist Financial initiated coverage on shares of Magnolia Oil & Gas (NYSE:MGY) in a research note issued on Tuesday. The brokerage set a “hold” rating and a $33.00 price target on the stock. Truist Financial’s price target indicates a potential upside of 6.65% from the company’s current price.

Several other analysts also recently commented on the stock. Citigroup increased their price objective on shares of Magnolia Oil & Gas from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. BMO Capital Markets initiated coverage on Magnolia Oil & Gas in a research note on Friday, January 9th. They issued an “outperform” rating and a $27.00 price target for the company. The Goldman Sachs Group increased their price objective on Magnolia Oil & Gas from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, February 11th. Siebert Williams Shank downgraded Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a report on Friday, March 6th. Finally, UBS Group boosted their target price on Magnolia Oil & Gas from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of “Hold” and an average target price of $29.27.

Magnolia Oil & Gas Stock Up 0.6%

Shares of NYSE:MGY opened at $30.94 on Tuesday. 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 stock has a fifty day simple moving average of $26.75 and a two-hundred day simple moving average of $24.29. Magnolia Oil & Gas has a 12-month low of $19.09 and a 12-month high of $31.21. The stock has a market capitalization of $5.77 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 2.78 and a beta of 0.89.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The firm 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%.The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 earnings per share. On average, research analysts anticipate that Magnolia Oil & Gas will post 2.1 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Brian Corales sold 33,000 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $29.12, for a total transaction of $960,960.00. Following the completion of the sale, the chief financial officer owned 184,178 shares in the company, valued at approximately $5,363,263.36. This represents a 15.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dan F. Smith sold 18,000 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $29.01, for a total value of $522,180.00. Following the completion of the transaction, the director directly owned 119,204 shares in the company, valued at approximately $3,458,108.04. This represents a 13.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 338,954 shares of company stock worth $9,911,733. Insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Magnolia Oil & Gas

Large investors have recently made changes to their positions in the company. Salomon & Ludwin LLC increased its position in shares of Magnolia Oil & Gas by 130.1% during the 4th quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock valued at $29,000 after purchasing an additional 760 shares during the last quarter. Mather Group LLC. purchased a new position in shares of Magnolia Oil & Gas in the third quarter worth approximately $31,000. EverSource Wealth Advisors LLC grew its position in Magnolia Oil & Gas by 165.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after buying an additional 864 shares during the period. Torren Management LLC bought a new stake in Magnolia Oil & Gas during the fourth quarter valued at approximately $38,000. Finally, Parallel Advisors LLC increased its holdings in Magnolia Oil & Gas by 79.8% during the fourth quarter. Parallel Advisors LLC now owns 1,769 shares of the company’s stock valued at $39,000 after buying an additional 785 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

About Magnolia Oil & Gas

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).