Magnolia Oil & Gas (NYSE:MGY) Price Target Lowered to $35.00 at Piper Sandler

Magnolia Oil & Gas (NYSE:MGYGet Rating) had its target price decreased by equities researchers at Piper Sandler from $36.00 to $35.00 in a research report issued on Wednesday, The Fly reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 47.37% from the stock’s previous close.

A number of other research analysts also recently commented on MGY. Mizuho began coverage on shares of Magnolia Oil & Gas in a research report on Monday. They issued a “buy” rating and a $32.00 price objective for the company. KeyCorp lifted their price objective on shares of Magnolia Oil & Gas from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, November 3rd. Finally, TheStreet lowered shares of Magnolia Oil & Gas from a “b-” rating to a “c+” rating in a research note on Wednesday, December 7th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $31.25.

Magnolia Oil & Gas Stock Up 3.6 %

Magnolia Oil & Gas stock opened at $23.75 on Wednesday. The company has a fifty day simple moving average of $24.37 and a 200 day simple moving average of $23.18. Magnolia Oil & Gas has a 1-year low of $18.01 and a 1-year high of $30.31. The company has a market cap of $5.13 billion, a P/E ratio of 5.48 and a beta of 2.13. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 0.27.

Magnolia Oil & Gas (NYSE:MGYGet Rating) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.11. Magnolia Oil & Gas had a net margin of 48.42% and a return on equity of 66.39%. The company had revenue of $482.96 million during the quarter, compared to the consensus estimate of $454.87 million. Research analysts anticipate that Magnolia Oil & Gas will post 4.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Magnolia Oil & Gas

Large investors have recently made changes to their positions in the company. Thompson Siegel & Walmsley LLC increased its stake in Magnolia Oil & Gas by 9.5% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 388,515 shares of the company’s stock worth $7,696,000 after acquiring an additional 33,861 shares during the period. MQS Management LLC boosted its holdings in shares of Magnolia Oil & Gas by 4.4% in the 3rd quarter. MQS Management LLC now owns 17,241 shares of the company’s stock valued at $342,000 after purchasing an additional 724 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Magnolia Oil & Gas by 3.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,235,725 shares of the company’s stock valued at $24,480,000 after purchasing an additional 44,562 shares in the last quarter. American Trust boosted its holdings in shares of Magnolia Oil & Gas by 26.9% in the 3rd quarter. American Trust now owns 12,217 shares of the company’s stock valued at $242,000 after purchasing an additional 2,593 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Magnolia Oil & Gas in the 3rd quarter valued at $2,449,000. Institutional investors own 98.60% of the company’s stock.

About Magnolia Oil & Gas

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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. Its 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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