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

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

MGY has been the topic of a number of other research reports. The Goldman Sachs Group upped their target price on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. Mizuho increased their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. Wells Fargo & Company increased their price objective on Magnolia Oil & Gas from $23.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday. Citigroup increased their price objective on Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a “sell” rating in a report on Monday. Finally, Bank of America initiated coverage on Magnolia Oil & Gas in a report on Tuesday, February 27th. They issued a “buy” rating and a $25.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Magnolia Oil & Gas has an average rating of “Hold” and a consensus target price of $27.14.

Magnolia Oil & Gas Price Performance

NYSE MGY opened at $25.68 on Friday. The stock’s 50-day moving average price is $23.96 and its two-hundred day moving average price is $22.33. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.21. The company has a market cap of $5.24 billion, a PE ratio of 12.52, a PEG ratio of 1.59 and a beta of 2.05. Magnolia Oil & Gas has a 1 year low of $18.72 and a 1 year high of $27.33.

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

Institutional Trading of Magnolia Oil & Gas

A number of hedge funds and other institutional investors have recently made changes to their positions in MGY. First Trust Advisors LP increased its stake in shares of Magnolia Oil & Gas by 562.8% in the first quarter. First Trust Advisors LP now owns 8,926,500 shares of the company’s stock valued at $195,312,000 after buying an additional 7,579,743 shares in the last quarter. BlackRock Inc. boosted its holdings in Magnolia Oil & Gas by 32.5% in the first quarter. BlackRock Inc. now owns 16,647,384 shares of the company’s stock valued at $364,245,000 after acquiring an additional 4,086,152 shares during the last quarter. abrdn plc bought a new position in Magnolia Oil & Gas in the third quarter valued at about $28,249,000. American Century Companies Inc. boosted its holdings in Magnolia Oil & Gas by 24.7% in the third quarter. American Century Companies Inc. now owns 6,009,953 shares of the company’s stock valued at $137,688,000 after acquiring an additional 1,188,536 shares during the last quarter. Finally, Ranger Investment Management L.P. bought a new position in Magnolia Oil & Gas in the fourth quarter valued at about $25,226,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

About Magnolia Oil & Gas

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.