Magnolia Oil & Gas (NYSE:MGY - Get Free Report) had its price objective decreased by Piper Sandler from $26.00 to $24.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Piper Sandler's target price indicates a potential downside of 0.99% from the stock's current price.
A number of other brokerages have also weighed in on MGY. Mizuho lifted their target price on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Monday. Susquehanna dropped their target price on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a "positive" rating on the stock in a report on Wednesday, September 4th. Truist Financial upped their price target on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Benchmark reissued a "hold" rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Finally, Siebert Williams Shank lowered Magnolia Oil & Gas from a "buy" rating to a "hold" rating and set a $30.00 target price for the company. in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $27.58.
View Our Latest Research Report on Magnolia Oil & Gas
Magnolia Oil & Gas Trading Down 1.5 %
MGY stock traded down $0.37 during midday trading on Tuesday, reaching $24.24. The company's stock had a trading volume of 2,098,225 shares, compared to its average volume of 2,436,251. Magnolia Oil & Gas has a 1 year low of $19.16 and a 1 year high of $29.02. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 1.29 and a beta of 1.99. The stock has a fifty day simple moving average of $26.55 and a two-hundred day simple moving average of $25.65. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47.
Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. The company had revenue of $333.14 million during the quarter, compared to analyst estimates of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. On average, equities research analysts predict that Magnolia Oil & Gas will post 2 EPS for the current year.
Insider Activity
In other news, Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $25.86, for a total value of $181,020,000.00. Following the transaction, the director now directly owns 2,099,403 shares of the company's stock, valued at approximately $54,290,561.58. This represents a 76.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.20% of the company's stock.
Institutional Trading of Magnolia Oil & Gas
Several institutional investors and hedge funds have recently bought and sold shares of MGY. Harbor Capital Advisors Inc. purchased a new stake in Magnolia Oil & Gas in the third quarter valued at $25,000. First Horizon Advisors Inc. boosted its stake in shares of Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock worth $25,000 after buying an additional 396 shares during the last quarter. GAMMA Investing LLC grew its holdings in Magnolia Oil & Gas by 62.4% during the third quarter. GAMMA Investing LLC now owns 2,609 shares of the company's stock worth $64,000 after acquiring an additional 1,002 shares during the period. Nisa Investment Advisors LLC raised its position in Magnolia Oil & Gas by 61.9% during the second quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company's stock valued at $72,000 after acquiring an additional 1,090 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in Magnolia Oil & Gas by 36.8% in the third quarter. Covestor Ltd now owns 2,986 shares of the company's stock valued at $73,000 after acquiring an additional 804 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.
About Magnolia Oil & Gas
(
Get Free Report)
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.
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