Magnolia Oil & Gas (NYSE:MGY) Price Target Cut to $28.00

Magnolia Oil & Gas (NYSE:MGY – Get Rating) had its price objective cut by analysts at Mizuho from $29.00 to $28.00 in a report issued on Friday, The Fly reports. Mizuho’s price target would suggest a potential upside of 40.70% from the stock’s previous close.

MGY has been the subject of a number of other reports. Piper Sandler lowered their target price on Magnolia Oil & Gas from $34.00 to $33.00 in a research note on Thursday. Truist Financial dropped their price objective on shares of Magnolia Oil & Gas from $36.00 to $33.00 in a report on Friday, May 5th. Credit Suisse Group boosted their price objective on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, February 16th. Finally, Roth Capital reiterated a “buy” rating on shares of Magnolia Oil & Gas in a report on Tuesday, February 14th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Magnolia Oil & Gas currently has an average rating of “Moderate Buy” and a consensus price target of $29.86.

Magnolia Oil & Gas Stock Performance

MGY stock opened at $19.90 on Friday. Magnolia Oil & Gas has a 1-year low of $18.01 and a 1-year high of $30.31. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.22. The firm has a market cap of $4.22 billion, a PE ratio of 4.62 and a beta of 2.15. The business’s 50-day moving average price is $20.99 and its two-hundred day moving average price is $22.72.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MGY. Tucker Asset Management LLC acquired a new stake in Magnolia Oil & Gas in the first quarter valued at $27,000. CI Investments Inc. acquired a new stake in Magnolia Oil & Gas in the 4th quarter valued at about $31,000. CWM LLC grew its holdings in Magnolia Oil & Gas by 60.6% during the third quarter. CWM LLC now owns 1,635 shares of the company’s stock worth $32,000 after purchasing an additional 617 shares during the period. Parallel Advisors LLC increased its position in Magnolia Oil & Gas by 246.3% during the first quarter. Parallel Advisors LLC now owns 2,493 shares of the company’s stock worth $55,000 after buying an additional 1,773 shares during the last quarter. Finally, Trifecta Capital Advisors LLC bought a new stake in Magnolia Oil & Gas in the fourth quarter valued at approximately $71,000. 98.60% of the stock is owned by institutional investors and hedge funds.

Magnolia Oil & Gas Company Profile

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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.