Magnolia Oil & Gas (NYSE:MGY) Price Target Increased to $27.00 by Analysts at Wells Fargo & Company

Magnolia Oil & Gas (NYSE:MGY) had its target price raised by Wells Fargo & Company from $23.00 to $27.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 4.59% from the stock’s previous close.

Several other analysts have also weighed in on the company. Bank of America assumed coverage on Magnolia Oil & Gas in a report on Tuesday, February 27th. They issued a “buy” rating and a $25.00 price objective for the company. Mizuho boosted their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, March 14th. Citigroup boosted their price objective on Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a report on Monday. Truist Financial boosted their price objective on Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, The Goldman Sachs Group boosted their price objective on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $27.14.

Magnolia Oil & Gas Stock Down 0.7 %

Shares of NYSE MGY opened at $25.82 on Thursday. Magnolia Oil & Gas has a 1 year low of $18.72 and a 1 year high of $27.33. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.60 and a beta of 2.05. 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 stock’s 50-day simple moving average is $23.96 and its 200-day simple moving average is $22.33.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. The business had revenue of $322.63 million for the quarter, compared to analysts’ expectations of $324.95 million. As a group, equities analysts anticipate that Magnolia Oil & Gas will post 2.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Magnolia Oil & Gas

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mather Group LLC. acquired a new position in shares of Magnolia Oil & Gas during the first quarter worth approximately $27,000. PNC Financial Services Group Inc. boosted its position in shares of Magnolia Oil & Gas by 33.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 53,570 shares of the company’s stock worth $1,141,000 after buying an additional 13,288 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Magnolia Oil & Gas by 15.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 790,363 shares of the company’s stock worth $16,827,000 after buying an additional 103,183 shares during the period. DRW Securities LLC acquired a new position in shares of Magnolia Oil & Gas during the fourth quarter worth approximately $1,392,000. Finally, GSA Capital Partners LLP acquired a new stake in Magnolia Oil & Gas in the fourth quarter worth approximately $304,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

About Magnolia Oil & Gas

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.