Magnolia Oil & Gas (NYSE:MGY) Given New $34.00 Price Target at Truist Financial

Key Points

• Truist raised its price target on Magnolia to $34 (from $33) and kept a "hold" rating, implying about a 16.2% upside; other analysts have also bumped targets (UBS $35 buy, KeyCorp $38 overweight) and the consensus is a "Moderate Buy" with an average PT of $31.08.
• Magnolia reported Q4 EPS of $0.37 (beating estimates by $0.01) with a 24.8% net margin and 16.7% ROE, and the stock trades near $29.26 with a market cap of $5.45 billion and a PE of 17.0.
• Insiders have sold about 338,954 shares (~$9.9M) in the past 90 days, leaving insider ownership at 0.92%, while institutional investors own approximately 94.7% of the stock.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) had its price objective lifted by equities research analysts at Truist Financial from $33.00 to $34.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Truist Financial's price objective points to a potential upside of 16.19% from the company's current price.

Other equities research analysts also recently issued reports about the stock. UBS Group lifted their price target on shares of Magnolia Oil & Gas from $29.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, March 5th. Zacks Research raised Magnolia Oil & Gas from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 26th. BMO Capital Markets assumed coverage on Magnolia Oil & Gas in a research note on Friday, January 9th. They set an "outperform" rating and a $27.00 price target for the company. Siebert Williams Shank cut shares of Magnolia Oil & Gas from a "buy" rating to a "hold" rating in a research note on Friday, March 6th. Finally, KeyCorp lifted their target price on shares of Magnolia Oil & Gas from $30.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $31.08.

Magnolia Oil & Gas Stock Up 0.1%

Magnolia Oil & Gas stock opened at $29.26 on Monday. The stock's 50 day moving average price is $29.27 and its 200 day moving average price is $25.30. Magnolia Oil & Gas has a 1-year low of $20.25 and a 1-year high of $32.76. The company has a market cap of $5.45 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 1.73 and a beta of 0.83. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 1.54.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, topping the consensus estimate 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 company had revenue of $317.63 million for the quarter, compared to analyst estimates of $322.18 million. During the same period in the previous year, the firm earned $0.44 EPS. The business's revenue was down 2.8% on a year-over-year basis. On average, sell-side analysts predict that Magnolia Oil & Gas will post 2.71 EPS for the current fiscal year.

Insider Activity

In other Magnolia Oil & Gas news, 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 sale, the director directly owned 110,425 shares of the company's stock, valued at approximately $3,200,116.50. The trade was a 14.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dan F. Smith sold 18,000 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $29.01, for a total value of $522,180.00. Following the transaction, the director directly owned 119,204 shares in the company, 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. Insiders have sold 338,954 shares of company stock valued at $9,911,733 in the last 90 days. Insiders own 0.92% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. AQR Capital Management LLC increased its position in Magnolia Oil & Gas by 77.7% during the first quarter. AQR Capital Management LLC now owns 56,346 shares of the company's stock worth $1,423,000 after purchasing an additional 24,631 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Magnolia Oil & Gas by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,109 shares of the company's stock worth $2,605,000 after buying an additional 4,512 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Magnolia Oil & Gas by 8.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,880 shares of the company's stock valued at $6,135,000 after acquiring an additional 18,447 shares during the period. Intech Investment Management LLC increased its stake in Magnolia Oil & Gas by 11.3% during the first quarter. Intech Investment Management LLC now owns 68,814 shares of the company's stock worth $1,738,000 after acquiring an additional 7,008 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Magnolia Oil & Gas by 165.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company's stock worth $31,000 after purchasing an additional 864 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

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).

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