Magnolia Oil & Gas (NYSE:MGY) PT Lowered to $32.00

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) had its price objective decreased by analysts at Susquehanna from $33.00 to $32.00 in a report released on Wednesday, Benzinga reports. The firm currently has a "positive" rating on the stock. Susquehanna's target price would suggest a potential upside of 32.67% from the company's current price.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company cut their target price on shares of Magnolia Oil & Gas from $27.00 to $26.00 and set an "equal weight" rating for the company in a research report on Monday, August 5th. Benchmark reiterated a "hold" rating on shares of Magnolia Oil & Gas in a report on Thursday, July 18th. Wolfe Research initiated coverage on Magnolia Oil & Gas in a research report on Thursday, July 18th. They issued an "outperform" rating and a $32.00 target price on the stock. Piper Sandler cut their price target on Magnolia Oil & Gas from $29.00 to $26.00 and set a "neutral" rating for the company in a research note on Thursday, August 15th. Finally, Mizuho boosted their price target on Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, May 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Magnolia Oil & Gas currently has an average rating of "Hold" and an average price target of $28.60.

Magnolia Oil & Gas Stock Down 0.8 %

NYSE:MGY traded down $0.19 during trading hours on Wednesday, hitting $24.12. 1,537,964 shares of the company's stock traded hands, compared to its average volume of 2,658,803. The stock's fifty day moving average price is $25.50 and its two-hundred day moving average price is $25.10. The firm has a market cap of $4.89 billion, a P/E ratio of 12.00, a P/E/G ratio of 1.22 and a beta of 2.02. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.28 and a current ratio of 1.28. Magnolia Oil & Gas has a twelve month low of $19.16 and a twelve month high of $27.63.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.05. The company had revenue of $336.73 million for the quarter, compared to analysts' expectations of $340.72 million. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. On average, research analysts expect that Magnolia Oil & Gas will post 2.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Magnolia Oil & Gas

A number of institutional investors have recently made changes to their positions in MGY. Truist Financial Corp increased its position in Magnolia Oil & Gas by 1.3% in the 4th quarter. Truist Financial Corp now owns 122,272 shares of the company's stock worth $2,603,000 after buying an additional 1,521 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Magnolia Oil & Gas by 72.9% during the 4th quarter. Russell Investments Group Ltd. now owns 264,677 shares of the company's stock worth $5,635,000 after purchasing an additional 111,558 shares during the period. Los Angeles Capital Management LLC raised its position in shares of Magnolia Oil & Gas by 280.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 48,635 shares of the company's stock valued at $1,035,000 after buying an additional 35,856 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Magnolia Oil & Gas by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,782,465 shares of the company's stock valued at $37,949,000 after buying an additional 46,510 shares during the period. Finally, TimesSquare Capital Management LLC grew its position in Magnolia Oil & Gas by 10.1% during the fourth quarter. TimesSquare Capital Management LLC now owns 884,709 shares of the company's stock worth $18,835,000 after buying an additional 81,130 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Company Profile

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.