Magnolia Oil & Gas (NYSE:MGY – Get a Free Report) The price target was cut by equity analysts at Piper Sandler from $29.00 to $26.00 in a note to investors on Thursday, Benzinga reports. The firm currently rates the stock “neutral.” Piper Sandler’s price target would imply a potential upside of 4.84% from the company’s last closing price.
Other research analysts have also recently issued reports on the company. Wolfe Research began coverage on Magnolia Oil & Gas in a research note on Thursday, July 18. They issued an “outperform” rating and a $32.00 price target for the company. Truist Financial increased their price target on Magnolia Oil & Gas from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, August 2. Susquehanna increased their price target on Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “positive” rating in a research report on Monday, July 22. Wells Fargo & Company reduced their price target on Magnolia Oil & Gas from $27.00 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, August 5. Finally, Bank of America increased their price target on Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, July 23. One investment analyst rated the stock at a “sell”, four have given a “hold” rating and six have given the stock a “buy”. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.70.
Check out our latest report on Magnolia Oil & Gas
Magnolia Oil & Gas trading up 0.7%
Shares of NYSE:MGY opened at $24.80 on Thursday. Magnolia Oil & Gas has a 52-week low of $19.16 and a 52-week high of $27.63. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 0.87 and a beta of 2.02. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21. The company has a 50-day average price of $25.36 and a 200-day average price of $24.62.
Institutional investors comment on Magnolia Oil & Gas
A number of institutional investors and hedge funds have recently added to or reduced their holdings in the company. Massmutual Trust Co. FSB ADV increased its holdings in shares of Magnolia Oil & Gas by 1,753.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock valued at $26,000 after purchasing an additional 982 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of Magnolia Oil & Gas in the 2nd quarter valued at $26,000. Mather Group LLC. acquired a new position in Magnolia Oil & Gas in the 1st quarter valued at $27,000. Private Wealth Management Group LLC acquired a new position in Magnolia Oil & Gas in the 4th quarter valued at $33,000. Finally, GAMMA Investing LLC increased its stake in Magnolia Oil & Gas by 184.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $41,000 after purchasing an additional 1,042 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.
Company profile of Magnolia Oil & Gas
(Get free report)
Magnolia Oil & Gas Corporation, an independent oil and natural gas company, is engaged 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 of South Texas and consist primarily of the Eagle Ford Shale and Austin Chalk formations.
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