Magnolia Oil & Gas (NYSE:MGY) PT Raised to $35.00 at Truist Financial

Magnolia Oil & Gas (NYSE:MGY) had its price target boosted by equities researchers at Truist Financial from $34.00 to $35.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 44.75% from the stock’s previous close.

MGY has been the subject of several other reports. Wolfe Research began coverage on Magnolia Oil & Gas in a research note on Thursday, July 18th. They set an “outperform” rating and a $32.00 price target for the company. Capital One Financial began coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, June 11th. They set an “overweight” rating and a $28.00 price target on the stock. Piper Sandler reissued a “neutral” rating and issued a $29.00 price objective on shares of Magnolia Oil & Gas in a research report on Friday, April 19th. Bank of America lifted their target price on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Susquehanna increased their price target on Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “positive” rating in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $29.10.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock opened at $24.18 on Friday. Magnolia Oil & Gas has a 12-month low of $19.16 and a 12-month high of $27.63. The firm’s 50-day moving average is $25.48 and its two-hundred day moving average is $24.39. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.71. The stock has a market capitalization of $4.90 billion, a P/E ratio of 12.03, a P/E/G ratio of 0.95 and a beta of 2.02.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Tuesday, May 7th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.05. The business had revenue of $319.42 million for the quarter, compared to analysts’ expectations of $308.21 million. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. Equities analysts predict that Magnolia Oil & Gas will post 2.2 earnings per share for the current year.

Insider Activity at Magnolia Oil & Gas

In related news, Director John B. Walker sold 12,000,000 shares of Magnolia Oil & Gas stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $25.58, for a total value of $306,960,000.00. Following the completion of the transaction, the director now directly owns 4,164,961 shares in the company, valued at $106,539,702.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Magnolia Oil & Gas

Several institutional investors have recently added to or reduced their stakes in MGY. Massmutual Trust Co. FSB ADV raised its stake in shares of Magnolia Oil & Gas by 1,753.6% during the second 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 in the last quarter. Opal Wealth Advisors LLC purchased a new position in Magnolia Oil & Gas in the 2nd quarter worth about $26,000. Mather Group LLC. acquired a new stake in shares of Magnolia Oil & Gas during the first quarter valued at approximately $27,000. Private Wealth Management Group LLC acquired a new stake in Magnolia Oil & Gas during the 4th quarter valued at $33,000. Finally, GAMMA Investing LLC lifted its stake in Magnolia Oil & Gas by 184.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $41,000 after acquiring an additional 1,042 shares in the last quarter. 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.