Magnolia Oil & Gas (NYSE:MGY) Now Covered by Analysts at UBS Group

UBS Group began coverage on shares of Magnolia Oil & Gas (NYSE:MGY - Get Free Report) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm set a "buy" rating and a $26.00 price target on the stock. UBS Group's price objective would indicate a potential upside of 22.61% from the stock's current price.

Several other analysts have also issued reports on MGY. Piper Sandler increased their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price objective on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Truist Financial boosted their target price on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Williams Trading set a $29.00 price target on shares of Magnolia Oil & Gas in a research report on Wednesday, March 5th. Finally, Johnson Rice cut Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $27.21.

Magnolia Oil & Gas Stock Performance

Magnolia Oil & Gas stock traded down $0.16 during midday trading on Tuesday, hitting $21.21. The company's stock had a trading volume of 2,055,896 shares, compared to its average volume of 2,295,387. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 3.01 and a beta of 1.57. Magnolia Oil & Gas has a 1-year low of $19.09 and a 1-year high of $29.02. The company has a 50-day moving average price of $22.85 and a two-hundred day moving average price of $24.54.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.03. The company had revenue of $326.61 million during the quarter, compared to the consensus estimate of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. As a group, sell-side analysts predict that Magnolia Oil & Gas will post 2.1 earnings per share for the current year.

Insider Activity

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros acquired 2,500 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the acquisition, the chief executive officer now directly owns 892,372 shares in the company, valued at $19,676,802.60. This represents a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP raised its position in Magnolia Oil & Gas by 24.6% during the 4th quarter. First Trust Advisors LP now owns 15,410,496 shares of the company's stock worth $360,297,000 after purchasing an additional 3,038,709 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Magnolia Oil & Gas by 11.7% in the fourth quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company's stock valued at $149,559,000 after buying an additional 667,973 shares during the period. Barclays PLC raised its position in shares of Magnolia Oil & Gas by 62.5% during the third quarter. Barclays PLC now owns 1,653,736 shares of the company's stock worth $40,383,000 after acquiring an additional 636,049 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Magnolia Oil & Gas in the fourth quarter worth approximately $13,634,000. Finally, Renaissance Technologies LLC boosted its holdings in Magnolia Oil & Gas by 910.5% in the fourth quarter. Renaissance Technologies LLC now owns 541,400 shares of the company's stock valued at $12,658,000 after acquiring an additional 487,820 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Company Profile

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.