Magnolia Oil & Gas (NYSE:MGY) Given New $35.00 Price Target at UBS Group

Key Points

• UBS raised its price target on Magnolia Oil & Gas from $29 to $35 and kept a "buy" rating, implying roughly a 20.27% upside from the prior close.
• Analysts are split but cautious overall: the stock has a consensus of Moderate Buy with an average price target of $28, as eight analysts rate it Buy and eight rate it Hold amid several recent upgrades.
• Shares traded at $29.10 (near a 12‑month high) after the company slightly beat EPS expectations ( $0.37 vs. $0.36); Magnolia has a market cap of $5.42B, a P/E of 16.92, and ~94.73% institutional ownership.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) had its price target hoisted by UBS Group from $29.00 to $35.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. UBS Group's target price indicates a potential upside of 20.27% from the stock's previous close.

MGY has been the subject of several other research reports. Roth Mkm reaffirmed a "buy" rating on shares of Magnolia Oil & Gas in a research note on Tuesday, February 10th. The Goldman Sachs Group boosted their price objective on shares of Magnolia Oil & Gas from $23.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, February 11th. Wells Fargo & Company set a $25.00 target price on shares of Magnolia Oil & Gas in a report on Monday, February 16th. Zacks Research upgraded shares of Magnolia Oil & Gas from a "strong sell" rating to a "hold" rating in a research report on Wednesday, February 11th. Finally, Bank of America upgraded shares of Magnolia Oil & Gas from a "neutral" rating to a "buy" rating and upped their price target for the company from $26.00 to $28.00 in a research report on Friday, January 16th. Eight analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $28.00.

Magnolia Oil & Gas Price Performance

Shares of Magnolia Oil & Gas stock traded up $0.50 on Thursday, hitting $29.10. 483,308 shares of the company traded hands, compared to its average volume of 3,055,727. Magnolia Oil & Gas has a 12-month low of $19.09 and a 12-month high of $29.37. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.20. The company has a market cap of $5.42 billion, a P/E ratio of 16.92 and a beta of 0.89. The firm's 50-day simple moving average is $24.74 and its 200 day simple moving average is $23.79.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released 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 return on equity of 16.67% and a net margin of 24.79%.The business had revenue of $317.63 million for the quarter, compared to analysts' expectations of $322.18 million. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The firm's revenue was down 2.8% on a year-over-year basis. Analysts expect that Magnolia Oil & Gas will post 2.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Magnolia Oil & Gas

Institutional investors and hedge funds have recently bought and sold shares of the business. TD Asset Management Inc increased its stake in shares of Magnolia Oil & Gas by 55.7% during the third quarter. TD Asset Management Inc now owns 4,478,361 shares of the company's stock valued at $106,898,000 after buying an additional 1,601,809 shares during the period. Epoch Investment Partners Inc. boosted its holdings in Magnolia Oil & Gas by 58.7% in the third quarter. Epoch Investment Partners Inc. now owns 4,138,626 shares of the company's stock valued at $98,789,000 after acquiring an additional 1,531,061 shares in the last quarter. American Century Companies Inc. increased its position in Magnolia Oil & Gas by 12.9% during the 2nd quarter. American Century Companies Inc. now owns 11,861,231 shares of the company's stock valued at $266,641,000 after purchasing an additional 1,358,878 shares during the period. HITE Hedge Asset Management LLC raised its holdings in Magnolia Oil & Gas by 661.5% in the 4th quarter. HITE Hedge Asset Management LLC now owns 1,454,388 shares of the company's stock worth $31,837,000 after purchasing an additional 1,263,407 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Magnolia Oil & Gas by 192.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,401,279 shares of the company's stock worth $33,449,000 after purchasing an additional 921,970 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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.