Piper Sandler Issues Positive Forecast for Magnolia Oil & Gas (NYSE:MGY) Stock Price

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) had its price objective boosted by stock analysts at Piper Sandler from $24.00 to $25.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's target price points to a potential upside of 8.13% from the company's current price.

A number of other research analysts also recently issued reports on the stock. UBS Group restated a "buy" rating and set a $29.00 target price (up from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Wells Fargo & Company cut their target price on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a research report on Monday, June 16th. Bank of America upped their target price on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Citigroup restated a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Finally, Susquehanna cut their target price on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $27.08.

Magnolia Oil & Gas Price Performance

NYSE:MGY traded up $0.02 during mid-day trading on Thursday, reaching $23.12. 2,599,778 shares of the company were exchanged, compared to its average volume of 2,384,698. Magnolia Oil & Gas has a 12 month low of $19.09 and a 12 month high of $29.02. The company has a fifty day moving average of $22.93 and a 200 day moving average of $23.17. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.20. The stock has a market cap of $4.45 billion, a PE ratio of 11.50, a PEG ratio of 3.05 and a beta of 1.28.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.02. Magnolia Oil & Gas had a net margin of 28.50% and a return on equity of 20.73%. The firm had revenue of $350.30 million for the quarter, compared to analyst estimates of $337.83 million. During the same quarter in the prior year, the firm earned $0.46 EPS. The company's revenue was up 9.7% on a year-over-year basis. On average, research analysts anticipate that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Institutional Trading of Magnolia Oil & Gas

Several hedge funds have recently bought and sold shares of the stock. Campbell Newman Asset Management Inc. grew its stake in shares of Magnolia Oil & Gas by 7.1% during the 2nd quarter. Campbell Newman Asset Management Inc. now owns 98,420 shares of the company's stock worth $2,212,000 after acquiring an additional 6,524 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Magnolia Oil & Gas by 5.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 111,229 shares of the company's stock worth $2,499,000 after acquiring an additional 5,378 shares in the last quarter. Foster Victor Wealth Advisors LLC grew its stake in shares of Magnolia Oil & Gas by 7.8% during the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 363,030 shares of the company's stock worth $8,488,000 after acquiring an additional 26,113 shares in the last quarter. Argent Capital Management LLC grew its stake in shares of Magnolia Oil & Gas by 5.1% during the 2nd quarter. Argent Capital Management LLC now owns 54,776 shares of the company's stock worth $1,231,000 after acquiring an additional 2,661 shares in the last quarter. Finally, Oliver Luxxe Assets LLC grew its stake in shares of Magnolia Oil & Gas by 1.4% during the 2nd quarter. Oliver Luxxe Assets LLC now owns 95,716 shares of the company's stock worth $2,152,000 after acquiring an additional 1,339 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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.