Magnolia Oil & Gas (NYSE:MGY) PT Raised to $35.00 at Truist Financial

Magnolia Oil & Gas (NYSE:MGYGet Free Report) had its price objective upped by investment analysts at Truist Financial from $33.00 to $35.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 34.87% from the company’s previous close.

A number of other research firms also recently issued reports on MGY. Citigroup boosted their target price on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a research report on Monday, April 15th. Mizuho boosted their target price on shares of Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Wells Fargo & Company boosted their target price on shares of Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Susquehanna upped their price objective on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Finally, Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Magnolia Oil & Gas has a consensus rating of “Hold” and a consensus target price of $28.13.

Read Our Latest Stock Report on MGY

Magnolia Oil & Gas Stock Up 1.9 %

Magnolia Oil & Gas stock opened at $25.95 on Friday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas has a 12-month low of $19.05 and a 12-month high of $27.33. The firm’s fifty day moving average is $25.81 and its 200 day moving average is $23.06. The company has a market capitalization of $5.26 billion, a PE ratio of 12.91, a PEG ratio of 1.44 and a beta of 2.03.

Magnolia Oil & Gas (NYSE:MGYGet Free Report) last released its earnings results on Tuesday, May 7th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. Magnolia Oil & Gas had a net margin of 30.46% and a return on equity of 20.41%. The company had revenue of $319.42 million for the quarter, compared to the consensus estimate of $308.21 million. As a group, sell-side analysts predict that Magnolia Oil & Gas will post 2.23 EPS for the current fiscal year.

Insider Transactions at Magnolia Oil & Gas

In other news, Director John B. Walker sold 12,000,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.58, for a total value of $306,960,000.00. Following the completion of the sale, the director now owns 4,164,961 shares in the company, valued at approximately $106,539,702.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Magnolia Oil & Gas

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Magnolia Oil & Gas by 16.6% during the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock valued at $538,654,000 after buying an additional 2,956,314 shares during the period. Principal Financial Group Inc. grew its position in Magnolia Oil & Gas by 2,799.2% during the first quarter. Principal Financial Group Inc. now owns 1,881,039 shares of the company’s stock valued at $48,813,000 after buying an additional 1,816,158 shares during the period. First Trust Advisors LP grew its position in Magnolia Oil & Gas by 20.2% during the fourth quarter. First Trust Advisors LP now owns 10,126,891 shares of the company’s stock valued at $215,602,000 after buying an additional 1,704,982 shares during the period. American Century Companies Inc. grew its position in Magnolia Oil & Gas by 24.7% during the third quarter. American Century Companies Inc. now owns 6,009,953 shares of the company’s stock valued at $137,688,000 after buying an additional 1,188,536 shares during the period. Finally, Ranger Investment Management L.P. bought a new position in Magnolia Oil & Gas during the fourth quarter valued at about $25,226,000. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Magnolia Oil & Gas (NYSE:MGY)

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