Magnolia Oil & Gas (NYSE:MGY) Stock Price Expected to Rise, KeyCorp Analyst Says

Magnolia Oil & Gas (NYSE:MGY) had its price target boosted by equities researchers at KeyCorp from $30.00 to $38.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s target price would indicate a potential upside of 22.47% from the company’s previous close.

MGY has been the topic of several other research reports. Weiss Ratings restated a “hold (c)” rating on shares of Magnolia Oil & Gas in a report on Thursday, January 22nd. Piper Sandler increased their price target on Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Mizuho set a $30.00 price objective on Magnolia Oil & Gas in a research report on Friday, February 6th. Bank of America raised Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $26.00 to $28.00 in a research note on Friday, January 16th. Finally, Truist Financial initiated coverage on Magnolia Oil & Gas in a research note on Tuesday, March 24th. They set a “hold” rating and a $33.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.55.

Magnolia Oil & Gas Stock Performance

NYSE:MGY opened at $31.03 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.54 and a current ratio of 1.54. Magnolia Oil & Gas has a fifty-two week low of $19.09 and a fifty-two week high of $32.76. The company has a 50 day simple moving average of $28.26 and a two-hundred day simple moving average of $24.76. The company has a market capitalization of $5.78 billion, a PE ratio of 18.04, a P/E/G ratio of 2.18 and a beta of 0.83.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. The firm had revenue of $317.63 million for the quarter, compared to the consensus estimate of $322.18 million. During the same quarter in the previous year, the company earned $0.44 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. Research analysts anticipate that Magnolia Oil & Gas will post 2.1 earnings per share for the current year.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, CFO Brian Corales sold 33,000 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $29.12, for a total value of $960,960.00. Following the completion of the sale, the chief financial officer owned 184,178 shares of the company’s stock, valued at approximately $5,363,263.36. This trade represents a 15.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dan F. Smith sold 18,000 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $29.01, for a total value of $522,180.00. Following the sale, the director owned 119,204 shares of the company’s stock, valued at approximately $3,458,108.04. This represents a 13.12% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 338,954 shares of company stock valued at $9,911,733. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Magnolia Oil & Gas

Hedge funds and other institutional investors have recently bought and sold shares of the business. Lido Advisors LLC lifted its stake in shares of Magnolia Oil & Gas by 2.4% in the fourth quarter. Lido Advisors LLC now owns 16,197 shares of the company’s stock valued at $382,000 after buying an additional 387 shares in the last quarter. Oak Family Advisors LLC lifted its position in Magnolia Oil & Gas by 0.9% in the 4th quarter. Oak Family Advisors LLC now owns 47,620 shares of the company’s stock valued at $1,042,000 after acquiring an additional 410 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Magnolia Oil & Gas by 10.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,624 shares of the company’s stock valued at $102,000 after acquiring an additional 422 shares in the last quarter. GAMMA Investing LLC boosted its stake in Magnolia Oil & Gas by 8.0% during the 4th quarter. GAMMA Investing LLC now owns 6,130 shares of the company’s stock valued at $134,000 after purchasing an additional 453 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its stake in Magnolia Oil & Gas by 3.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company’s stock valued at $380,000 after purchasing an additional 482 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).