Magnolia Oil & Gas (NYSE:MGY) Price Target Lowered to $31.00 at Truist Financial

Magnolia Oil & Gas (NYSE:MGY) had its target price dropped by investment analysts at Truist Financial from $35.00 to $31.00 in a report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 27.26% from the company’s current price.

Several other equities research analysts also recently issued reports on the stock. Mizuho dropped their price target on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Wolfe Research began coverage on shares of Magnolia Oil & Gas in a research note on Thursday, July 18th. They set an “outperform” rating and a $32.00 price target on the stock. Wells Fargo & Company dropped their price target on shares of Magnolia Oil & Gas from $27.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Magnolia Oil & Gas has an average rating of “Hold” and a consensus price target of $27.64.

Magnolia Oil & Gas Trading Up 0.4 %

NYSE MGY traded up $0.09 during mid-day trading on Monday, reaching $24.36. 234,933 shares of the stock were exchanged, compared to its average volume of 2,624,627. Magnolia Oil & Gas has a 1-year low of $19.16 and a 1-year high of $27.63. The business’s fifty day simple moving average is $24.94 and its 200 day simple moving average is $25.31. The stock has a market capitalization of $4.85 billion, a PE ratio of 12.14, a PEG ratio of 1.27 and a beta of 2.00. 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 (NYSE:MGY) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. The company had revenue of $336.73 million for the quarter, compared to analyst estimates of $340.72 million. On average, research analysts anticipate that Magnolia Oil & Gas will post 2.04 earnings per share for the current fiscal year.

Insider Activity at Magnolia Oil & Gas

In related news, Director Ltd. Enervest sold 7,000,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the transaction, the director now directly owns 2,099,403 shares of the company’s stock, valued at $54,290,561.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is currently owned by insiders.

Institutional Trading of Magnolia Oil & Gas

Several large investors have recently added to or reduced their stakes in MGY. Massmutual Trust Co. FSB ADV raised its stake in Magnolia Oil & Gas by 1,753.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock valued at $26,000 after purchasing an additional 982 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in Magnolia Oil & Gas during the 2nd quarter valued at $26,000. Mather Group LLC. acquired a new position in Magnolia Oil & Gas during the 1st quarter valued at $27,000. GAMMA Investing LLC raised its stake in shares of Magnolia Oil & Gas by 184.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $41,000 after buying an additional 1,042 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Magnolia Oil & Gas in the 1st quarter valued at $50,000. 94.73% of the stock is 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.