Magnolia Oil & Gas (NYSE:MGY) Given New $25.00 Price Target at Mizuho

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 objective lowered by investment analysts at Mizuho from $26.00 to $25.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Mizuho's price target indicates a potential upside of 5.29% from the company's current price.

MGY has been the subject of several other research reports. Piper Sandler increased their price objective on Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. William Blair initiated coverage on Magnolia Oil & Gas in a research report on Monday, August 25th. They issued an "outperform" rating on the stock. Citigroup reiterated a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Bank of America lifted their target price on Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Finally, Wells Fargo & Company reduced their price target on Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a report on Monday, June 16th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $26.42.

Magnolia Oil & Gas Stock Down 0.2%

Shares of MGY traded down $0.06 during trading hours on Monday, reaching $23.74. The company's stock had a trading volume of 543,965 shares, compared to its average volume of 2,606,344. The company has a 50 day moving average of $23.78 and a two-hundred day moving average of $23.02. Magnolia Oil & Gas has a 1-year low of $19.09 and a 1-year high of $29.02. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 3.14 and a beta of 1.33. 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 issued its earnings results on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%.The firm had revenue of $318.98 million during the quarter, compared to analysts' expectations of $311.58 million. During the same period last year, the business earned $0.51 earnings per share. Magnolia Oil & Gas's quarterly revenue was down 5.3% compared to the same quarter last year. As a group, research analysts predict that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Magnolia Oil & Gas

Large investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its holdings in Magnolia Oil & Gas by 4.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,470 shares of the company's stock valued at $391,000 after acquiring an additional 715 shares during the last quarter. Foster Victor Wealth Advisors LLC boosted its stake in shares of Magnolia Oil & Gas by 7.1% during the first quarter. Foster Victor Wealth Advisors LLC now owns 336,917 shares of the company's stock worth $8,511,000 after buying an additional 22,402 shares during the period. GF Fund Management CO. LTD. purchased a new position in Magnolia Oil & Gas in the fourth quarter valued at about $1,370,000. Jane Street Group LLC increased its stake in shares of Magnolia Oil & Gas by 1,382.9% during the 1st quarter. Jane Street Group LLC now owns 1,059,335 shares of the company's stock worth $26,759,000 after purchasing an additional 987,896 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of Magnolia Oil & Gas by 4.4% in the 1st quarter. Bessemer Group Inc. now owns 836,386 shares of the company's stock valued at $21,127,000 after purchasing an additional 35,575 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

About Magnolia Oil & Gas

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.

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