Mizuho Lowers Magnolia Oil & Gas (NYSE:MGY) Price Target to $25.00

Key Points

• Mizuho has reduced its price target for Magnolia Oil & Gas from $26.00 to $25.00 while maintaining a "neutral" rating, indicating a potential upside of 5.29% from its current price.
• Magnolia Oil & Gas shares saw a slight decline of 0.2% during trading hours, closing at $23.74, with a trading volume significantly lower than its average.
• Despite the mixed ratings from analysts, the stock remains under a consensus "Hold" rating with an average target price of $26.42.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) had its price target dropped by equities researchers at Mizuho from $26.00 to $25.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Mizuho's price objective would suggest a potential upside of 4.08% from the company's previous close.

MGY has been the subject of a number of other research reports. Citigroup reaffirmed a "sell" rating on shares of Magnolia Oil & Gas in a report on Thursday, July 10th. Piper Sandler boosted their price target on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Bank of America lifted their price objective on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. UBS Group reiterated a "buy" rating and issued a $29.00 price target (up from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Finally, Wells Fargo & Company dropped their price target on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a research report on Monday, June 16th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $26.42.

Magnolia Oil & Gas Stock Down 2.4%

Shares of MGY traded down $0.59 during mid-day trading on Monday, reaching $24.02. 7,560,473 shares of the stock traded hands, compared to its average volume of 2,631,149. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 3.25 and a beta of 1.33. The stock has a fifty day simple moving average of $23.87 and a 200 day simple moving average of $23.06. Magnolia Oil & Gas has a 12-month low of $19.09 and a 12-month high of $29.02. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. The business had revenue of $318.98 million during the quarter, compared to the consensus estimate of $311.58 million. During the same quarter last year, the company earned $0.51 earnings per share. The business's quarterly revenue was down 5.3% compared to the same quarter last year. Sell-side analysts expect that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of large investors have recently added to or reduced their stakes in the stock. State of Wyoming boosted its position in Magnolia Oil & Gas by 8.2% during the first quarter. State of Wyoming now owns 5,777 shares of the company's stock worth $146,000 after purchasing an additional 440 shares during the period. Vista Finance LLC lifted its holdings in shares of Magnolia Oil & Gas by 4.0% during the second quarter. Vista Finance LLC now owns 12,134 shares of the company's stock worth $273,000 after buying an additional 471 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Magnolia Oil & Gas by 1.2% in the second quarter. ProShare Advisors LLC now owns 41,617 shares of the company's stock valued at $936,000 after purchasing an additional 495 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Magnolia Oil & Gas by 16.8% in the first quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock valued at $111,000 after purchasing an additional 629 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in Magnolia Oil & Gas by 0.4% in the second quarter. Lazard Asset Management LLC now owns 167,071 shares of the company's stock valued at $3,755,000 after acquiring an additional 671 shares during the period. Institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Company Profile

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.