Magnolia Oil & Gas (NYSE:MGY) Given New $37.00 Price Target at Susquehanna

Key Points

• Susquehanna raised Magnolia Oil & Gas’s price target from $36 to $37 and maintained a positive rating, implying 42.09% upside from the prior close.
• Analyst sentiment is generally favorable, with a consensus “Moderate Buy” rating and an average price target of $31.58, despite mixed target-price revisions from other firms.
• Magnolia reported quarterly EPS of $0.99, beating estimates by $0.06, while revenue rose 50.1% year over year to $478.81 million; institutional investors own 94.73% of the stock.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) had its price objective raised by investment analysts at Susquehanna from $36.00 to $37.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "positive" rating on the stock. Susquehanna's target price suggests a potential upside of 42.09% from the company's previous close.

Other research analysts have also issued research reports about the company. UBS Group dropped their target price on Magnolia Oil & Gas from $38.00 to $34.00 and set a "buy" rating on the stock in a report on Friday, July 10th. Truist Financial raised shares of Magnolia Oil & Gas from a "hold" rating to a "buy" rating and boosted their price objective for the company from $32.00 to $33.00 in a research note on Tuesday, July 28th. Wall Street Zen upgraded shares of Magnolia Oil & Gas from a "hold" rating to a "buy" rating in a research note on Saturday. Citigroup cut their price target on shares of Magnolia Oil & Gas from $35.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, April 13th. Finally, KeyCorp reiterated an "overweight" rating on shares of Magnolia Oil & Gas in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Magnolia Oil & Gas currently has a consensus rating of "Moderate Buy" and an average price target of $31.58.

Magnolia Oil & Gas Price Performance

Shares of MGY opened at $26.04 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.58 and a current ratio of 1.58. Magnolia Oil & Gas has a fifty-two week low of $21.07 and a fifty-two week high of $32.76. The firm has a 50-day simple moving average of $26.15 and a 200-day simple moving average of $27.65. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 11.42 and a beta of 0.72.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.93 by $0.06. Magnolia Oil & Gas had a return on equity of 21.04% and a net margin of 28.77%.The firm had revenue of $478.81 million during the quarter, compared to the consensus estimate of $458.10 million. During the same period in the prior year, the business earned $0.41 EPS. The firm's revenue was up 50.1% compared to the same quarter last year. On average, equities research analysts anticipate that Magnolia Oil & Gas will post 2.81 earnings per share for the current year.

Institutional Trading of Magnolia Oil & Gas

Institutional investors and hedge funds have recently made changes to their positions in the stock. Foster Victor Wealth Advisors LLC increased its stake in Magnolia Oil & Gas by 9.2% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 417,192 shares of the company's stock worth $9,429,000 after acquiring an additional 35,223 shares during the last quarter. Bessemer Group Inc. boosted its position in Magnolia Oil & Gas by 22.4% during the 4th quarter. Bessemer Group Inc. now owns 1,116,993 shares of the company's stock worth $24,452,000 after purchasing an additional 204,467 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in shares of Magnolia Oil & Gas by 210.5% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 414,817 shares of the company's stock worth $9,080,000 after purchasing an additional 281,234 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Magnolia Oil & Gas by 26.6% during the fourth quarter. TD Asset Management Inc now owns 5,671,819 shares of the company's stock worth $124,156,000 after purchasing an additional 1,193,458 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd grew its stake in shares of Magnolia Oil & Gas by 481.9% during the first quarter. Y Intercept Hong Kong Ltd now owns 153,445 shares of the company's stock valued at $4,844,000 after acquiring an additional 127,077 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source