Magnolia Oil & Gas (NYSE:MGY) Price Target Cut to $19.00 by Analysts at Citigroup

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) had its target price decreased by analysts at Citigroup from $22.00 to $19.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "sell" rating on the stock. Citigroup's price target indicates a potential downside of 6.79% from the stock's current price.

A number of other research firms also recently issued reports on MGY. Bank of America reissued a "neutral" rating and set a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Johnson Rice lowered shares of Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, January 28th. Truist Financial raised 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 note on Monday, January 13th. Mizuho upped their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a "neutral" rating in a research report on Monday, December 16th. Finally, The Goldman Sachs Group lowered Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and cut their price objective for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Magnolia Oil & Gas has a consensus rating of "Hold" and a consensus price target of $27.54.

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Magnolia Oil & Gas Trading Up 3.8 %

NYSE:MGY traded up $0.76 during trading hours on Tuesday, reaching $20.39. 3,654,605 shares of the company were exchanged, compared to its average volume of 2,297,729. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 3.01 and a beta of 1.57. The stock has a 50 day simple moving average of $23.38 and a 200 day simple moving average of $24.85. Magnolia Oil & Gas has a 52-week low of $19.09 and a 52-week high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47.

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

Insider Buying and Selling at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros bought 2,500 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $22.05 per share, with a total value of $55,125.00. Following the transaction, the chief executive officer now owns 892,372 shares of the company's stock, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Magnolia Oil & Gas

Large investors have recently modified their holdings of the stock. Mather Group LLC. raised its stake in Magnolia Oil & Gas by 100.0% during the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company's stock valued at $25,000 after buying an additional 545 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Magnolia Oil & Gas by 112.3% in the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock valued at $25,000 after acquiring an additional 567 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Magnolia Oil & Gas during the 4th quarter valued at approximately $43,000. Quarry LP lifted its stake in Magnolia Oil & Gas by 1,047.8% during the fourth quarter. Quarry LP now owns 2,135 shares of the company's stock worth $50,000 after purchasing an additional 1,949 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in Magnolia Oil & Gas by 30.0% in the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock worth $51,000 after purchasing an additional 506 shares during the period. Institutional investors own 94.73% of the company's stock.

About Magnolia Oil & Gas

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.