Magnolia Oil & Gas Co. (NYSE:MGY) Receives $27.50 Average Target Price from Brokerages

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have been given an average recommendation of “Hold” by the thirteen ratings firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $27.50.

A number of research analysts have issued reports on the stock. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. 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. Mizuho reduced their target price on Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Truist Financial dropped their price target on Magnolia Oil & Gas from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Piper Sandler decreased their price objective on Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, August 15th.

Magnolia Oil & Gas Trading Down 1.7 %

NYSE:MGY opened at $25.57 on Friday. The firm has a market capitalization of $5.18 billion, a P/E ratio of 12.72, a P/E/G ratio of 1.33 and a beta of 1.99. Magnolia Oil & Gas has a 52 week low of $19.16 and a 52 week high of $27.63. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average of $25.27 and a 200 day moving average of $25.39.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.05. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. The company had revenue of $336.73 million for the quarter, compared to analysts’ expectations of $340.72 million. On average, research analysts predict that Magnolia Oil & Gas will post 1.98 earnings per share for the current year.

Insider Transactions at Magnolia Oil & Gas

In related news, Director Ltd. Enervest sold 7,000,000 shares of the firm’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 value of $181,020,000.00. Following the sale, the director now owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MGY. Nordea Investment Management AB lifted its holdings in Magnolia Oil & Gas by 37.1% during the first quarter. Nordea Investment Management AB now owns 521,702 shares of the company’s stock valued at $13,387,000 after purchasing an additional 141,046 shares in the last quarter. Maryland State Retirement & Pension System purchased a new stake in shares of Magnolia Oil & Gas during the first quarter worth about $1,721,000. Texas Permanent School Fund Corp bought a new stake in Magnolia Oil & Gas during the 1st quarter valued at approximately $4,207,000. Vanguard Group Inc. lifted its holdings in Magnolia Oil & Gas by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock worth $538,654,000 after purchasing an additional 2,956,314 shares in the last quarter. Finally, Oliver Luxxe Assets LLC boosted its stake in Magnolia Oil & Gas by 80.6% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company’s stock worth $2,140,000 after purchasing an additional 39,098 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

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.