Magnolia Oil & Gas (NYSE:MGY) Stock Price Expected to Rise, Citigroup Analyst Says

Magnolia Oil & Gas (NYSE:MGY) had its price objective hoisted by equities researchers at Citigroup from $29.00 to $35.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 11.04% from the company’s current price.

MGY has been the subject of several other research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magnolia Oil & Gas in a report on Thursday, January 22nd. Zacks Research raised Magnolia Oil & Gas from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 26th. Roth Mkm restated a “buy” rating on shares of Magnolia Oil & Gas in a report on Tuesday, February 10th. Susquehanna reduced their price target on Magnolia Oil & Gas from $30.00 to $28.00 and set a “positive” rating on the stock in a report on Monday, January 26th. Finally, UBS Group boosted their price target on shares of Magnolia Oil & Gas from $29.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Magnolia Oil & Gas presently has an average rating of “Moderate Buy” and an average price target of $29.82.

Magnolia Oil & Gas Price Performance

NYSE:MGY traded down $0.60 during trading hours on Tuesday, hitting $31.52. 1,665,468 shares of the stock were exchanged, compared to its average volume of 3,117,746. The firm’s fifty day moving average price is $27.67 and its 200 day moving average price is $24.57. Magnolia Oil & Gas has a 52-week low of $19.09 and a 52-week high of $32.76. The company has a market cap of $5.88 billion, a P/E ratio of 18.33, a P/E/G ratio of 2.27 and a beta of 0.89. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $317.63 million for the quarter, compared to analyst estimates of $322.18 million. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. Magnolia Oil & Gas’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 earnings per share. As a group, equities research analysts anticipate that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Edward P. Djerejian sold 18,000 shares of Magnolia Oil & Gas stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $28.98, for a total value of $521,640.00. Following the completion of the sale, the director owned 110,425 shares in the company, valued at approximately $3,200,116.50. This trade represents a 14.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Timothy D. Yang sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $29.29, for a total value of $4,393,500.00. Following the completion of the sale, the executive vice president directly owned 526,661 shares in the company, valued at approximately $15,425,900.69. The trade was a 22.17% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 338,954 shares of company stock worth $9,911,733. Insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of institutional investors have recently modified their holdings of MGY. AQR Capital Management LLC grew its stake in shares of Magnolia Oil & Gas by 77.7% in the first quarter. AQR Capital Management LLC now owns 56,346 shares of the company’s stock worth $1,423,000 after acquiring an additional 24,631 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Magnolia Oil & Gas by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,109 shares of the company’s stock valued at $2,605,000 after purchasing an additional 4,512 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Magnolia Oil & Gas by 8.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,880 shares of the company’s stock worth $6,135,000 after purchasing an additional 18,447 shares in the last quarter. Intech Investment Management LLC grew its stake in Magnolia Oil & Gas by 11.3% during the 1st quarter. Intech Investment Management LLC now owns 68,814 shares of the company’s stock worth $1,738,000 after purchasing an additional 7,008 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Magnolia Oil & Gas by 23.9% during the 2nd quarter. Franklin Resources Inc. now owns 109,039 shares of the company’s stock worth $2,451,000 after purchasing an additional 21,061 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).