Magnolia Oil & Gas Co. (NYSE:MGY) - Analysts at Piper Sandler boosted their FY2021 earnings per share estimates for shares of Magnolia Oil & Gas in a research report issued to clients and investors on Wednesday, January 27th. Piper Sandler analyst M. Lear now forecasts that the company will post earnings per share of $0.83 for the year, up from their previous estimate of $0.58. Piper Sandler has a "Neutral" rating and a $6.00 price target on the stock. Piper Sandler also issued estimates for Magnolia Oil & Gas' FY2022 earnings at $0.81 EPS.
A number of other research firms also recently weighed in on MGY. KeyCorp upped their target price on Magnolia Oil & Gas from $9.00 to $10.00 and gave the company an "overweight" rating in a research report on Thursday, January 21st. MKM Partners cut shares of Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and upped their price target for the company from $6.00 to $7.00 in a research report on Monday, November 30th. Northland Securities upgraded shares of Magnolia Oil & Gas from a "market perform" rating to an "outperform" rating in a research note on Friday, November 6th. Finally, Credit Suisse Group cut their price objective on shares of Magnolia Oil & Gas from $7.00 to $6.00 and set a "neutral" rating for the company in a research report on Monday, November 9th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Magnolia Oil & Gas currently has a consensus rating of "Buy" and an average price target of $7.48.
MGY stock remained flat at $$8.87 during mid-day trading on Friday. 14,134 shares of the company's stock traded hands, compared to its average volume of 2,634,640. The business has a fifty day simple moving average of $8.08 and a 200 day simple moving average of $6.44. The firm has a market cap of $2.23 billion, a PE ratio of -1.21 and a beta of 2.72. Magnolia Oil & Gas has a 1 year low of $3.23 and a 1 year high of $11.05. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.48. Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Thursday, November 5th. The company reported $0.06 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.05 by $0.01. Magnolia Oil & Gas had a negative net margin of 199.68% and a negative return on equity of 1.06%. The business had revenue of $121.07 million for the quarter, compared to the consensus estimate of $128.77 million.
A number of large investors have recently bought and sold shares of MGY. Albert D Mason Inc. grew its stake in Magnolia Oil & Gas by 7.2% during the 4th quarter. Albert D Mason Inc. now owns 31,455 shares of the company's stock worth $222,000 after buying an additional 2,100 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Magnolia Oil & Gas by 45.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 16,050 shares of the company's stock valued at $83,000 after buying an additional 5,000 shares during the period. California Public Employees Retirement System lifted its stake in shares of Magnolia Oil & Gas by 2.2% during the third quarter. California Public Employees Retirement System now owns 283,243 shares of the company's stock worth $1,464,000 after purchasing an additional 6,000 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Magnolia Oil & Gas by 589.3% in the third quarter. Nisa Investment Advisors LLC now owns 7,720 shares of the company's stock worth $40,000 after buying an additional 6,600 shares during the period. Finally, JBF Capital Inc. acquired a new stake in shares of Magnolia Oil & Gas in the third quarter valued at about $34,000. Institutional investors own 69.34% of the company's stock.
In related news, CEO Stephen I. Chazen bought 40,000 shares of the business's stock in a transaction dated Thursday, November 19th. The stock was acquired at an average price of $5.77 per share, with a total value of $230,800.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.57% of the company's stock.
Magnolia Oil & Gas Company Profile
Magnolia Oil & Gas Corporation engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. The company's properties are located primarily in Karnes County and the Giddings Field in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.
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