Magnolia Oil & Gas (NYSE:MGY) Rating Reiterated by Piper Sandler

Magnolia Oil & Gas (NYSE:MGY)‘s stock had its “neutral” rating reaffirmed by analysts at Piper Sandler in a research note issued on Friday, Marketbeat reports. They currently have a $29.00 price objective on the stock. Piper Sandler’s price objective would suggest a potential upside of 12.95% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Bank of America started coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, February 27th. They set a “buy” rating and a $25.00 target price on the stock. Wells Fargo & Company lifted their target price on shares of Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday. Truist Financial boosted their price target on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Mizuho boosted their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, March 14th. Finally, Citigroup upped their target price on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a research report on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $27.14.

Magnolia Oil & Gas Trading Down 0.6 %

NYSE:MGY opened at $25.68 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas has a 12 month low of $18.72 and a 12 month high of $27.33. The company has a market cap of $5.24 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.59 and a beta of 2.05. The company has a 50 day simple moving average of $23.96 and a two-hundred day simple moving average of $22.33.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. The business had revenue of $322.63 million for the quarter, compared to the consensus estimate of $324.95 million. Research analysts forecast that Magnolia Oil & Gas will post 2.08 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mather Group LLC. purchased a new position in shares of Magnolia Oil & Gas in the first quarter worth $27,000. Private Wealth Management Group LLC acquired a new stake in shares of Magnolia Oil & Gas in the fourth quarter worth $33,000. VisionPoint Advisory Group LLC increased its stake in shares of Magnolia Oil & Gas by 112.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after acquiring an additional 813 shares during the period. State of Wyoming increased its stake in shares of Magnolia Oil & Gas by 38.8% in the second quarter. State of Wyoming now owns 2,552 shares of the company’s stock worth $53,000 after acquiring an additional 713 shares during the period. Finally, KBC Group NV acquired a new stake in shares of Magnolia Oil & Gas in the fourth quarter worth $57,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

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.