Susquehanna Increases Magnolia Oil & Gas (NYSE:MGY) Price Target to $31.00

Magnolia Oil & Gas (NYSE:MGY) had its price objective boosted by Susquehanna from $28.00 to $31.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna’s target price points to a potential upside of 19.28% from the company’s previous close.

MGY has been the subject of a number of other reports. Citigroup lifted their price objective on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a “sell” rating in a research report on Monday, April 15th. The Goldman Sachs Group lifted their price objective on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. Truist Financial lifted their price objective on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Piper Sandler reaffirmed a “neutral” rating and set a $29.00 price objective on shares of Magnolia Oil & Gas in a research report on Friday, April 19th. Finally, Mizuho lifted their price objective on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $27.63.

Magnolia Oil & Gas Price Performance

Shares of MGY opened at $25.99 on Monday. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 1.58 and a beta of 2.05. Magnolia Oil & Gas has a 1-year low of $18.72 and a 1-year high of $27.33. The company’s fifty day simple moving average is $24.38 and its 200 day simple moving average is $22.45. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.21.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results 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 firm had revenue of $322.63 million for the quarter, compared to analyst estimates of $324.95 million. Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. On average, research analysts forecast that Magnolia Oil & Gas will post 2.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Magnolia Oil & Gas

Institutional investors and hedge funds have recently bought and sold shares of the company. Mather Group LLC. bought a new stake in Magnolia Oil & Gas during the first quarter worth about $27,000. Private Wealth Management Group LLC bought a new stake in Magnolia Oil & Gas during the fourth quarter worth about $33,000. VisionPoint Advisory Group LLC lifted its position in Magnolia Oil & Gas by 112.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after purchasing an additional 813 shares during the period. Quadrant Capital Group LLC lifted its position in Magnolia Oil & Gas by 40.4% during the fourth quarter. Quadrant Capital Group LLC now owns 4,623 shares of the company’s stock worth $98,000 after purchasing an additional 1,331 shares during the period. Finally, Arlington Trust Co LLC acquired a new position in Magnolia Oil & Gas during the fourth quarter worth about $113,000. Institutional investors 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.