Piper Sandler Issues Positive Forecast for Magnolia Oil & Gas (NYSE:MGY) Stock Price

Magnolia Oil & Gas (NYSE:MGY) had its target price upped by Piper Sandler from $24.00 to $26.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also recently issued reports on MGY. Mizuho boosted their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Truist Financial increased their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Wells Fargo & Company lowered shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $26.00 to $22.00 in a research report on Tuesday, October 1st. Finally, Siebert Williams Shank lowered 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 report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $27.75.

Magnolia Oil & Gas Stock Performance

NYSE MGY opened at $24.81 on Wednesday. The company’s fifty day moving average is $25.33 and its two-hundred day moving average is $25.51. Magnolia Oil & Gas has a 52-week low of $19.53 and a 52-week high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 3.26 and a beta of 2.00.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $333.14 million for the quarter, compared to the consensus estimate of $331.45 million. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. Equities research analysts forecast that Magnolia Oil & Gas will post 1.98 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Legato Capital Management LLC acquired a new stake in Magnolia Oil & Gas during the 4th quarter valued at $276,000. Louisiana State Employees Retirement System grew its holdings in shares of Magnolia Oil & Gas by 1.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 92,400 shares of the company’s stock worth $2,160,000 after purchasing an additional 1,400 shares during the last quarter. Entropy Technologies LP increased its stake in shares of Magnolia Oil & Gas by 118.3% in the fourth quarter. Entropy Technologies LP now owns 26,503 shares of the company’s stock valued at $620,000 after buying an additional 14,365 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Magnolia Oil & Gas by 4.5% in the fourth quarter. Empowered Funds LLC now owns 60,114 shares of the company’s stock valued at $1,405,000 after buying an additional 2,591 shares during the last quarter. Finally, Vest Financial LLC lifted its position in Magnolia Oil & Gas by 39.0% during the 4th quarter. Vest Financial LLC now owns 1,521,004 shares of the company’s stock worth $35,561,000 after buying an additional 426,572 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.