Magnolia Oil & Gas Corp (MGY) – What Are Researchers Saying About This Stock?

Magnolia Oil & Gas Corp (NYSE:MGY) has received an average recommendation of “Moderate Buy” from the nineteen analysts that are presently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $31.53.

Several equities research analysts recently commented on the company. Wall Street Zen downgraded Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. JPMorgan Chase & Co. upgraded Magnolia Oil & Gas from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $32.00 to $33.00 in a report on Tuesday, September 8th. UBS Group set a $35.00 price objective on shares of Magnolia Oil & Gas in a research report on Thursday, October 15th. Wells Fargo & Company lowered their price objective on shares of Magnolia Oil & Gas from $36.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 14th. Finally, Truist Financial lifted their price objective on shares of Magnolia Oil & Gas from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, October 2nd.

Magnolia Oil & Gas Stock Down 0.3%

NYSE:MGY opened at $26.38 on Wednesday. The stock has a fifty day simple moving average of $25.79 and a 200-day simple moving average of $26.94. Magnolia Oil & Gas has a 52-week low of $21.07 and a 52-week high of $32.76.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. The company had revenue of $478.81 million for the quarter, compared to analysts’ expectations of $458.10 million. The company’s revenue for the quarter was up 50.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 EPS. As a group, research analysts predict that Magnolia Oil & Gas will post 2.83 EPS for the current year.

Insider Buying and Selling

In related news, Director David Khani bought 8,000 shares of the business’s stock in a transaction on Friday, August 7th. The shares were bought at an average cost of $25.00 per share, for a total transaction of $200,000.00. Following the completion of the purchase, the director owned 30,622 shares of the company’s stock, valued at $765,550. This represents a 35.36% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.92% of the stock is currently owned by insiders.

Institutional Trading of Magnolia Oil & Gas

Several hedge funds have recently bought and sold shares of MGY. Planning Project LLC bought a new stake in Magnolia Oil & Gas in the second quarter worth about $1,434,000. Janus Henderson Group PLC lifted its holdings in Magnolia Oil & Gas by 2.8% in the 1st quarter. Janus Henderson Group PLC now owns 6,279,636 shares of the company’s stock valued at $198,248,000 after acquiring an additional 170,174 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Magnolia Oil & Gas in the 2nd quarter worth approximately $3,077,000. Y Intercept Hong Kong Ltd lifted its stake in Magnolia Oil & Gas by 481.9% during the first quarter. Y Intercept Hong Kong Ltd now owns 153,445 shares of the company’s stock valued at $4,844,000 after purchasing an additional 127,077 shares during the last quarter. Finally, Edgestream Partners L.P. lifted its stake in Magnolia Oil & Gas by 45.7% during the first quarter. Edgestream Partners L.P. now owns 352,998 shares of the company’s stock valued at $11,144,000 after purchasing an additional 110,677 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation (NYSE: MGY) is an independent oil and natural gas exploration and production company focused on developing assets in South Texas. Its operations are concentrated in the Eagle Ford Shale and Austin Chalk formations, where it owns and operates a substantial acreage position.

The company produces crude oil, condensate, natural gas liquids and natural gas. Magnolia uses horizontal drilling and hydraulic fracturing technologies to develop unconventional reserves, with activity primarily centered in the Karnes and Giddings areas of South Texas.

Magnolia Oil & Gas was formed in 2017 through a business combination involving Silver Run Acquisition Corporation II and certain oil and gas assets previously associated with TGP Investments.