Magnolia Oil & Gas (NYSE:MGY) Price Target Raised to $34.00

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) had its price objective boosted by equities research analysts at Truist Financial from $33.00 to $34.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's target price indicates a potential upside of 33.75% from the company's previous close.

MGY has been the subject of several other reports. Bank of America reiterated a "neutral" rating and set a $28.00 target price (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday. Piper Sandler dropped their target price on shares of Magnolia Oil & Gas from $26.00 to $24.00 and set a "neutral" rating on the stock in a research note on Tuesday, December 17th. Siebert Williams Shank downgraded shares of Magnolia Oil & Gas from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a research note on Tuesday, October 15th. Benchmark reissued a "hold" rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company cut Magnolia Oil & Gas from an "equal weight" rating to an "underweight" rating and lowered their target price for the stock from $26.00 to $22.00 in a report on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $27.58.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock traded up $0.54 during mid-day trading on Monday, hitting $25.42. The stock had a trading volume of 2,199,624 shares, compared to its average volume of 1,981,887. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The firm's 50 day moving average is $25.64 and its 200 day moving average is $25.50. The firm has a market capitalization of $5.00 billion, a P/E ratio of 12.58, a P/E/G ratio of 1.29 and a beta of 2.00. Magnolia Oil & Gas has a one year low of $19.16 and a one year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. The company had revenue of $333.14 million for the quarter, compared to the consensus estimate of $331.45 million. On average, sell-side analysts forecast that Magnolia Oil & Gas will post 2 earnings per share for the current fiscal year.

Institutional Trading of Magnolia Oil & Gas

A number of institutional investors and hedge funds have recently made changes to their positions in MGY. FMR LLC lifted its position in shares of Magnolia Oil & Gas by 174.9% during the 3rd quarter. FMR LLC now owns 34,851 shares of the company's stock valued at $851,000 after buying an additional 22,171 shares in the last quarter. Oliver Luxxe Assets LLC grew its stake in Magnolia Oil & Gas by 80.6% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company's stock valued at $2,140,000 after acquiring an additional 39,098 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of Magnolia Oil & Gas during the 3rd quarter worth approximately $353,000. Ensign Peak Advisors Inc grew its position in shares of Magnolia Oil & Gas by 5.6% in the second quarter. Ensign Peak Advisors Inc now owns 68,919 shares of the company's stock valued at $1,746,000 after purchasing an additional 3,630 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Magnolia Oil & Gas in the third quarter valued at approximately $1,252,000. 94.73% of the stock is currently owned by hedge funds and other 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.