Magnolia Oil & Gas (NYSE:MGY) PT Lowered to $22.00

Magnolia Oil & Gas (NYSE:MGY – Get Rating) had its target price reduced by investment analysts at Citigroup from $25.00 to $22.00 in a research note issued to investors on Sunday, The Fly reports. Citigroup’s price target indicates a potential upside of 6.23% from the stock’s previous close.

A number of other equities analysts have also issued reports on the stock. Roth Capital reaffirmed a “buy” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, February 14th. Mizuho dropped their target price on shares of Magnolia Oil & Gas from $29.00 to $28.00 in a research report on Friday. Credit Suisse Group boosted their target price on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, February 16th. Truist Financial dropped their target price on shares of Magnolia Oil & Gas from $36.00 to $33.00 in a research report on Friday, May 5th. Finally, Piper Sandler decreased their price target on shares of Magnolia Oil & Gas from $34.00 to $33.00 in a research note on Thursday, May 18th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Magnolia Oil & Gas presently has a consensus rating of “Moderate Buy” and an average target price of $28.88.

Magnolia Oil & Gas Trading Up 4.1 %

Shares of MGY stock opened at $20.71 on Friday. Magnolia Oil & Gas has a 1 year low of $18.01 and a 1 year high of $30.31. The firm’s fifty day simple moving average is $21.00 and its 200 day simple moving average is $22.67. The firm has a market capitalization of $4.39 billion, a P/E ratio of 4.81 and a beta of 2.15. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.22.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several institutional investors and hedge funds have recently made changes to their positions in the company. Putnam Investments LLC boosted its stake in shares of Magnolia Oil & Gas by 8.2% in the 1st quarter. Putnam Investments LLC now owns 578,108 shares of the company’s stock valued at $12,649,000 after purchasing an additional 43,578 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Magnolia Oil & Gas by 4.6% during the 1st quarter. Ameriprise Financial Inc. now owns 69,526 shares of the company’s stock worth $1,521,000 after buying an additional 3,075 shares in the last quarter. American Trust lifted its position in Magnolia Oil & Gas by 4.8% during the 1st quarter. American Trust now owns 13,073 shares of the company’s stock worth $286,000 after buying an additional 602 shares in the last quarter. SIR Capital Management L.P. acquired a new position in Magnolia Oil & Gas during the 1st quarter worth about $20,302,000. Finally, First Trust Advisors LP lifted its position in Magnolia Oil & Gas by 562.8% during the 1st quarter. First Trust Advisors LP now owns 8,926,500 shares of the company’s stock worth $195,312,000 after buying an additional 7,579,743 shares in the last quarter. Institutional investors and hedge funds own 98.60% of the company’s stock.

About Magnolia Oil & Gas

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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.