Magnolia Oil & Gas (NYSE:MGY) Now Covered by Truist Financial

Key Points

• Truist Financial initiated coverage on Magnolia Oil & Gas with a Hold rating and a $33.00 price target, implying roughly a 6.65% upside from the current price.
• The stock carries a consensus Hold rating (average price target $29.27) with eight Buy and nine Hold analyst recommendations, and trades near $30.94 with a market cap of about $5.77 billion.
• Insiders have sold 338,954 shares (~$9.91 million) in the past three months, while institutional investors own approximately 94.73% of the company.

Analysts at Truist Financial initiated coverage on shares of Magnolia Oil & Gas (NYSE:MGY - Get Free Report) in a research note issued to investors on Tuesday. The firm set a "hold" rating and a $33.00 price target on the stock. Truist Financial's target price would indicate a potential upside of 6.65% from the company's current price.

Other research analysts have also issued research reports about the company. Zacks Research raised Magnolia Oil & Gas from a "strong sell" rating to a "hold" rating in a research report on Wednesday, February 11th. Roth Mkm reissued a "buy" rating on shares of Magnolia Oil & Gas in a research note on Tuesday, February 10th. Susquehanna decreased their target price on Magnolia Oil & Gas from $30.00 to $28.00 and set a "positive" rating for the company in a report on Monday, January 26th. Citigroup raised their price target on Magnolia Oil & Gas from $25.00 to $29.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 18th. Finally, 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 report on Thursday, March 5th. Eight equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $29.27.

Magnolia Oil & Gas Price Performance

Shares of Magnolia Oil & Gas stock opened at $30.94 on Tuesday. The company's fifty day simple moving average is $26.75 and its two-hundred day simple moving average is $24.29. Magnolia Oil & Gas has a 12-month low of $19.09 and a 12-month high of $31.21. The firm has a market cap of $5.77 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 2.78 and a beta of 0.89. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. The firm had revenue of $317.63 million during the quarter, compared to the consensus estimate of $322.18 million. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. The company's quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 earnings per share. As a group, equities analysts expect that Magnolia Oil & Gas will post 2.1 EPS for the current year.

Insider Transactions at Magnolia Oil & Gas

In other news, Director Dan F. Smith sold 18,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director owned 119,204 shares in the company, valued at $3,458,108.04. This trade represents a 13.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Timothy D. Yang sold 150,000 shares of Magnolia Oil & Gas stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $29.29, for a total value of $4,393,500.00. Following the sale, the executive vice president owned 526,661 shares in the company, valued at $15,425,900.69. This represents a 22.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 338,954 shares of company stock worth $9,911,733. 0.93% of the stock is owned by insiders.

Institutional Trading of Magnolia Oil & Gas

Hedge funds have recently modified their holdings of the business. TD Asset Management Inc increased its stake in shares of Magnolia Oil & Gas by 55.7% in the 3rd quarter. TD Asset Management Inc now owns 4,478,361 shares of the company's stock worth $106,898,000 after acquiring an additional 1,601,809 shares in the last quarter. Epoch Investment Partners Inc. boosted its stake in Magnolia Oil & Gas by 58.7% during the third quarter. Epoch Investment Partners Inc. now owns 4,138,626 shares of the company's stock worth $98,789,000 after acquiring an additional 1,531,061 shares in the last quarter. HITE Hedge Asset Management LLC boosted its stake in Magnolia Oil & Gas by 661.5% during the fourth quarter. HITE Hedge Asset Management LLC now owns 1,454,388 shares of the company's stock worth $31,837,000 after acquiring an additional 1,263,407 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Magnolia Oil & Gas by 192.4% in the third 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 during the period. Finally, Pacer Advisors Inc. grew its holdings in Magnolia Oil & Gas by 16,251.3% in the third quarter. Pacer Advisors Inc. now owns 626,745 shares of the company's stock worth $14,960,000 after purchasing an additional 622,912 shares during the period. 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).

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