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

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) had its price objective cut by analysts at Piper Sandler from $26.00 to $25.00 in a research report issued on Tuesday, MarketBeat reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's price target points to a potential upside of 17.90% from the company's previous close.

A number of other equities research analysts also recently issued reports on MGY. Williams Trading set a $29.00 price target on shares of Magnolia Oil & Gas in a research note on Wednesday, March 5th. JPMorgan Chase & Co. cut their target price on Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Johnson Rice cut Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Citigroup dropped their price objective on Magnolia Oil & Gas from $22.00 to $19.00 and set a "sell" rating for the company in a research note on Tuesday, April 8th. Finally, Truist Financial increased their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $27.21.

Magnolia Oil & Gas Trading Down 0.7 %

MGY stock traded down $0.16 during midday trading on Tuesday, hitting $21.21. 2,055,896 shares of the company's stock were exchanged, compared to its average volume of 2,298,717. Magnolia Oil & Gas has a 1-year low of $19.09 and a 1-year high of $29.02. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $4.12 billion, a PE ratio of 10.99, a P/E/G ratio of 3.01 and a beta of 1.57. The business has a 50-day simple moving average of $22.85 and a two-hundred day simple moving average of $24.52.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The firm had revenue of $326.61 million during the quarter, compared to the consensus estimate of $327.40 million. On average, sell-side analysts predict that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros purchased 2,500 shares of the business's stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the purchase, the chief executive officer now directly owns 892,372 shares in the company, valued at approximately $19,676,802.60. This represents a 0.28 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Magnolia Oil & Gas

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Trust Advisors LP increased its stake in Magnolia Oil & Gas by 24.6% in the fourth quarter. First Trust Advisors LP now owns 15,410,496 shares of the company's stock valued at $360,297,000 after purchasing an additional 3,038,709 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Magnolia Oil & Gas by 11.7% during the fourth quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company's stock worth $149,559,000 after acquiring an additional 667,973 shares during the last quarter. Barclays PLC increased its holdings in shares of Magnolia Oil & Gas by 62.5% in the 3rd quarter. Barclays PLC now owns 1,653,736 shares of the company's stock valued at $40,383,000 after acquiring an additional 636,049 shares during the period. Raymond James Financial Inc. purchased a new stake in Magnolia Oil & Gas in the 4th quarter valued at $13,634,000. Finally, Renaissance Technologies LLC boosted its stake in Magnolia Oil & Gas by 910.5% during the 4th quarter. Renaissance Technologies LLC now owns 541,400 shares of the company's stock worth $12,658,000 after purchasing an additional 487,820 shares during the period. Institutional investors and hedge funds own 94.73% of the company's stock.

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.