Magnolia Oil & Gas (NYSE:MGY) Price Target Raised to $37.00

Magnolia Oil & Gas (NYSE:MGY) had its price target increased by research analysts at Susquehanna from $36.00 to $37.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s target price suggests a potential upside of 42.09% from the stock’s previous close.

Several other equities analysts also recently issued reports on MGY. KeyCorp reissued an “overweight” rating on shares of Magnolia Oil & Gas in a report on Monday, June 29th. Weiss Ratings downgraded shares of Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Mizuho upgraded shares of Magnolia Oil & Gas to a “strong-buy” rating in a research report on Friday, July 31st. Wall Street Zen upgraded shares of Magnolia Oil & Gas from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Wells Fargo & Company decreased their target price on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.58.

Magnolia Oil & Gas Trading Up 3.8%

NYSE:MGY opened at $26.04 on Tuesday. Magnolia Oil & Gas has a 12-month low of $21.07 and a 12-month high of $32.76. The firm has a market capitalization of $4.82 billion, a P/E ratio of 11.42 and a beta of 0.72. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 1.58. The business has a 50 day simple moving average of $26.15 and a 200 day simple moving average of $27.65.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.06. Magnolia Oil & Gas had a return on equity of 21.04% and a net margin of 28.77%.The firm had revenue of $478.81 million for the quarter, compared to analyst estimates of $458.10 million. During the same period last year, the company earned $0.41 earnings per share. The firm’s revenue for the quarter was up 50.1% on a year-over-year basis. Equities research analysts predict that Magnolia Oil & Gas will post 2.81 EPS for the current year.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership boosted its stake in Magnolia Oil & Gas by 790.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,263,808 shares of the company’s stock valued at $197,748,000 after purchasing an additional 5,560,619 shares in the last quarter. Epoch Investment Partners Inc. lifted its holdings in shares of Magnolia Oil & Gas by 58.7% in the third quarter. Epoch Investment Partners Inc. now owns 4,138,626 shares of the company’s stock valued at $98,789,000 after buying an additional 1,531,061 shares during the period. HITE Hedge Asset Management LLC boosted its stake in Magnolia Oil & Gas by 661.5% during the fourth quarter. HITE Hedge Asset Management LLC now owns 1,454,388 shares of the company’s stock valued at $31,837,000 after buying an additional 1,263,407 shares in the last quarter. TD Asset Management Inc boosted its stake in Magnolia Oil & Gas by 26.6% during the fourth quarter. TD Asset Management Inc now owns 5,671,819 shares of the company’s stock valued at $124,156,000 after buying an additional 1,193,458 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Magnolia Oil & Gas by 20.5% during the first quarter. Bank of America Corp DE now owns 3,877,361 shares of the company’s stock valued at $122,408,000 after buying an additional 659,012 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

About Magnolia Oil & Gas

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).