Magnolia Oil & Gas (NYSE:MGY) PT Raised to $22.00 at Citigroup

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) had its price objective boosted by research analysts at Citigroup from $18.00 to $22.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a "sell" rating on the stock. Citigroup's target price suggests a potential downside of 16.00% from the stock's previous close.

Other equities research analysts have also issued research reports about the company. Wells Fargo & Company dropped their price target on Magnolia Oil & Gas from $23.00 to $21.00 and set an "equal weight" rating for the company in a research note on Friday, January 19th. The Goldman Sachs Group boosted their price target on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a "buy" rating in a report on Tuesday, March 26th. Piper Sandler dropped their target price on shares of Magnolia Oil & Gas from $30.00 to $29.00 and set an "overweight" rating for the company in a research report on Wednesday, January 24th. Mizuho increased their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a "neutral" rating in a research note on Thursday, March 14th. Finally, Bank of America initiated coverage on shares of Magnolia Oil & Gas in a report on Tuesday, February 27th. They issued a "buy" rating and a $25.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Magnolia Oil & Gas presently has an average rating of "Hold" and an average target price of $26.29.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock traded down $0.49 during midday trading on Monday, reaching $26.19. 2,586,466 shares of the stock were exchanged, compared to its average volume of 3,301,852. Magnolia Oil & Gas has a 52 week low of $18.72 and a 52 week high of $27.33. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market cap of $5.35 billion, a PE ratio of 12.78, a PEG ratio of 1.68 and a beta of 2.05. The company's fifty day moving average is $23.74 and its 200-day moving average is $22.29.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.04). Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. The firm had revenue of $322.63 million for the quarter, compared to analysts' expectations of $324.95 million. On average, sell-side analysts forecast that Magnolia Oil & Gas will post 2.03 EPS for the current year.

Institutional Trading of Magnolia Oil & Gas

A number of hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP raised its stake in Magnolia Oil & Gas by 562.8% during the first quarter. First Trust Advisors LP now owns 8,926,500 shares of the company's stock valued at $195,312,000 after buying an additional 7,579,743 shares during the last quarter. BlackRock Inc. raised its position in shares of Magnolia Oil & Gas by 32.5% in the 1st quarter. BlackRock Inc. now owns 16,647,384 shares of the company's stock worth $364,245,000 after purchasing an additional 4,086,152 shares during the last quarter. abrdn plc bought a new position in Magnolia Oil & Gas in the 3rd quarter worth about $28,249,000. American Century Companies Inc. grew its position in Magnolia Oil & Gas by 24.7% during the 3rd quarter. American Century Companies Inc. now owns 6,009,953 shares of the company's stock valued at $137,688,000 after purchasing an additional 1,188,536 shares during the last quarter. Finally, Ranger Investment Management L.P. bought a new stake in Magnolia Oil & Gas during the 4th quarter valued at about $25,226,000. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.