Mizuho Increases Magnolia Oil & Gas (NYSE:MGY) Price Target to $28.00

Magnolia Oil & Gas (NYSE:MGYGet Free Report) had its target price lifted by research analysts at Mizuho from $26.00 to $28.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Mizuho’s price target indicates a potential upside of 7.49% from the stock’s previous close.

Several other brokerages have also commented on MGY. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, April 23rd. Truist Financial lifted their target price on Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Citigroup boosted their price objective on Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a research report on Monday, April 15th. Piper Sandler restated 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, Susquehanna boosted their price objective on Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $27.88.

Read Our Latest Research Report on MGY

Magnolia Oil & Gas Price Performance

MGY stock opened at $26.05 on Monday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas has a 52-week low of $19.05 and a 52-week high of $27.33. The stock’s 50 day moving average is $25.50 and its two-hundred day moving average is $22.75. The company has a market capitalization of $5.32 billion, a PE ratio of 12.96, a P/E/G ratio of 1.51 and a beta of 2.03.

Magnolia Oil & Gas (NYSE:MGYGet Free Report) last issued its earnings results on Wednesday, February 14th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.04). The firm had revenue of $322.63 million during the quarter, compared to analyst estimates of $324.95 million. Magnolia Oil & Gas had a return on equity of 20.41% and a net margin of 30.46%. Analysts predict that Magnolia Oil & Gas will post 2.18 earnings per share for the current fiscal year.

Institutional Trading of Magnolia Oil & Gas

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quadrature Capital Ltd bought a new stake in shares of Magnolia Oil & Gas in the 1st quarter worth $307,000. CANADA LIFE ASSURANCE Co raised its position in shares of Magnolia Oil & Gas by 740.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 157,757 shares of the company’s stock worth $4,092,000 after purchasing an additional 138,982 shares during the period. American International Group Inc. raised its position in shares of Magnolia Oil & Gas by 7.4% during the first quarter. American International Group Inc. now owns 95,817 shares of the company’s stock worth $2,486,000 after purchasing an additional 6,568 shares during the period. Bessemer Group Inc. raised its position in shares of Magnolia Oil & Gas by 7.2% during the first quarter. Bessemer Group Inc. now owns 628,409 shares of the company’s stock worth $16,308,000 after purchasing an additional 42,154 shares during the period. Finally, Seven Eight Capital LP acquired a new stake in shares of Magnolia Oil & Gas during the first quarter worth $2,989,000. Institutional investors own 94.73% of the company’s stock.

About Magnolia Oil & Gas

(Get Free Report)

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.

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