Magnolia Oil & Gas (NYSE:MGY) PT Raised to $22.00 at Citigroup

Magnolia Oil & Gas (NYSE:MGY) had its target price raised by equities researchers at Citigroup from $18.00 to $22.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “sell” rating on the stock. Citigroup’s price objective indicates a potential downside of 15.38% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Bank of America initiated coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, February 27th. They issued a “buy” rating and a $25.00 price objective for the company. Mizuho increased their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, March 14th. Piper Sandler decreased their target price on Magnolia Oil & Gas from $30.00 to $29.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. Wells Fargo & Company lowered their target price on Magnolia Oil & Gas from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Friday, January 19th. Finally, Truist Financial raised their price target on Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $26.29.

Magnolia Oil & Gas Stock Performance

MGY opened at $26.00 on Monday. Magnolia Oil & Gas has a 12-month low of $18.72 and a 12-month high of $27.33. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 1.68 and a beta of 2.05. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $23.74 and its 200 day moving average is $22.29.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The business had revenue of $322.63 million during the quarter, compared to the consensus estimate of $324.95 million. Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. On average, equities research analysts predict that Magnolia Oil & Gas will post 2.03 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Mather Group LLC. purchased a new stake in shares of Magnolia Oil & Gas during the first quarter valued at $27,000. PNC Financial Services Group Inc. grew its stake in Magnolia Oil & Gas by 33.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 53,570 shares of the company’s stock valued at $1,141,000 after purchasing an additional 13,288 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Magnolia Oil & Gas by 15.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 790,363 shares of the company’s stock valued at $16,827,000 after purchasing an additional 103,183 shares during the period. DRW Securities LLC purchased a new position in shares of Magnolia Oil & Gas in the fourth quarter worth about $1,392,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Magnolia Oil & Gas during the fourth quarter worth about $304,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

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.