Magnolia Oil & Gas (NYSE:MGY) Hits New 1-Year High – What’s Next?

by · The Cerbat Gem

Magnolia Oil & Gas Corp (NYSE:MGY – Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $26.48 and last traded at $25.5410, with a volume of 547912 shares changing hands. The stock had previously closed at $25.22.

Analyst Ratings Changes

MGY has been the topic of a number of recent research reports. Citigroup raised Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and lifted their target price for the company from $19.00 to $25.00 in a research report on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magnolia Oil & Gas in a research note on Thursday, January 22nd. Zacks Research lowered shares of Magnolia Oil & Gas from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. KeyCorp set a $29.00 target price on shares of Magnolia Oil & Gas and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Finally, Piper Sandler cut their price target on shares of Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 18th. Eight investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Magnolia Oil & Gas currently has an average rating of “Hold” and an average target price of $26.58.

View Our Latest Stock Analysis on Magnolia Oil & Gas

Magnolia Oil & Gas Stock Up 2.2%

The firm has a fifty day simple moving average of $22.66 and a 200-day simple moving average of $23.23. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 4.04 and a beta of 0.92.

Magnolia Oil & Gas (NYSE:MGY – Get Free Report) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. Magnolia Oil & Gas had a return on equity of 18.10% and a net margin of 25.90%.The business had revenue of $324.94 million during the quarter, compared to the consensus estimate of $322.52 million. During the same period in the previous year, the company posted $0.52 EPS. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, sell-side analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of large investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Magnolia Oil & Gas by 8.0% in the 4th quarter. GAMMA Investing LLC now owns 6,130 shares of the company’s stock worth $134,000 after purchasing an additional 453 shares in the last quarter. Vista Finance LLC raised its stake in shares of Magnolia Oil & Gas by 4.0% in the second quarter. Vista Finance LLC now owns 12,134 shares of the company’s stock worth $273,000 after purchasing an additional 471 shares during the last quarter. Coldstream Capital Management Inc. boosted its position in Magnolia Oil & Gas by 3.1% in the third quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company’s stock valued at $380,000 after buying an additional 482 shares during the last quarter. ProShare Advisors LLC increased its holdings in Magnolia Oil & Gas by 1.2% in the 2nd quarter. ProShare Advisors LLC now owns 41,617 shares of the company’s stock worth $936,000 after buying an additional 495 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in Magnolia Oil & Gas by 13.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,284 shares of the company’s stock worth $102,000 after buying an additional 500 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

About Magnolia Oil & Gas

(Get Free Report)

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).

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