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

Magnolia Oil & Gas (NYSE:MGY) had its target price upped by Wells Fargo & Company from $25.00 to $32.00 in a report issued on Friday, Marketbeat Ratings reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 7.00% from the stock’s current price.

Several other research firms also recently weighed in on MGY. Citigroup boosted their target price on Magnolia Oil & Gas from $29.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, March 31st. UBS Group boosted their target price on Magnolia Oil & Gas from $29.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Mizuho set a $30.00 target price on shares of Magnolia Oil & Gas in a research report on Friday, February 6th. Piper Sandler raised their target price on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Finally, Zacks Research upgraded shares of Magnolia Oil & Gas from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Magnolia Oil & Gas currently has a consensus rating of “Moderate Buy” and an average price target of $31.25.

Magnolia Oil & Gas Trading Up 0.8%

NYSE MGY opened at $29.91 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 1.54. The firm’s fifty day moving average price is $28.80 and its 200 day moving average price is $24.97. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 1.87 and a beta of 0.83. Magnolia Oil & Gas has a 12 month low of $19.38 and a 12 month high of $32.76.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, beating 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 period last year, the firm posted $0.44 EPS. The company’s revenue was down 2.8% on a year-over-year basis. On average, sell-side analysts expect that Magnolia Oil & Gas will post 2.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Magnolia Oil & Gas news, CFO Brian Corales sold 33,000 shares of Magnolia Oil & Gas 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 transaction, the chief financial officer directly owned 184,178 shares in the company, valued at approximately $5,363,263.36. This trade represents a 15.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edward P. Djerejian sold 18,000 shares of Magnolia Oil & Gas stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $28.98, for a total value of $521,640.00. Following the completion of the transaction, the director owned 110,425 shares in the company, valued at $3,200,116.50. This trade represents a 14.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 338,954 shares of company stock worth $9,911,733. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Magnolia Oil & Gas

Large investors have recently bought and sold shares of the company. Mather Group LLC. purchased a new position in Magnolia Oil & Gas during the 3rd quarter worth $31,000. Salomon & Ludwin LLC raised its position in Magnolia Oil & Gas by 130.1% during the 4th quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock worth $29,000 after buying an additional 760 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Magnolia Oil & Gas by 165.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock worth $31,000 after buying an additional 864 shares during the last quarter. Torren Management LLC purchased a new position in Magnolia Oil & Gas during the 4th quarter worth $38,000. Finally, Parallel Advisors LLC boosted its holdings in Magnolia Oil & Gas by 79.8% in the 4th quarter. Parallel Advisors LLC now owns 1,769 shares of the company’s stock valued at $39,000 after purchasing an additional 785 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Company Profile

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).