Magnolia Oil & Gas (NYSE:MGY) Reaches New 1-Year High at $22.25

Magnolia Oil & Gas Co. (NYSE:MGY) reached a new 52-week high during mid-day trading on Saturday . The stock traded as high as $22.25 and last traded at $22.23, with a volume of 1938218 shares. The stock had previously closed at $21.06.

MGY has been the subject of a number of research analyst reports. KeyCorp increased their target price on shares of Magnolia Oil & Gas from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, October 28th. TheStreet lowered shares of Magnolia Oil & Gas from a “b-” rating to a “c” rating in a research report on Friday, November 26th. Truist Securities increased their price target on shares of Magnolia Oil & Gas from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, October 7th. Piper Sandler increased their price target on shares of Magnolia Oil & Gas from $18.00 to $25.00 and gave the company an “overweight” rating in a research report on Thursday, October 21st. Finally, JPMorgan Chase & Co. lowered shares of Magnolia Oil & Gas from an “overweight” rating to a “neutral” rating and increased their price target for the company from $23.00 to $24.00 in a research report on Tuesday, December 7th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $20.88.

The stock’s 50 day moving average price is $19.72 and its 200 day moving average price is $17.68. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.43. The firm has a market cap of $5.14 billion, a PE ratio of 13.23 and a beta of 2.46.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Sunday, October 31st. The company reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.06. Magnolia Oil & Gas had a net margin of 33.08% and a return on equity of 35.78%. The business had revenue of $283.58 million for the quarter, compared to the consensus estimate of $278.35 million. During the same quarter last year, the firm posted $0.06 EPS. The business’s revenue for the quarter was up 134.2% compared to the same quarter last year. Analysts forecast that Magnolia Oil & Gas Co. will post 2.37 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in MGY. Moors & Cabot Inc. purchased a new stake in Magnolia Oil & Gas during the 3rd quarter worth $25,000. Clearstead Advisors LLC purchased a new stake in Magnolia Oil & Gas during the 3rd quarter worth $25,000. Signaturefd LLC increased its stake in Magnolia Oil & Gas by 43.4% during the 3rd quarter. Signaturefd LLC now owns 1,702 shares of the company’s stock worth $30,000 after buying an additional 515 shares during the period. Berman Capital Advisors LLC increased its stake in Magnolia Oil & Gas by 56.9% during the 3rd quarter. Berman Capital Advisors LLC now owns 1,963 shares of the company’s stock worth $34,000 after buying an additional 712 shares during the period. Finally, Captrust Financial Advisors increased its stake in Magnolia Oil & Gas by 35.2% during the 3rd quarter. Captrust Financial Advisors now owns 2,445 shares of the company’s stock worth $43,000 after buying an additional 637 shares during the period.

About Magnolia Oil & Gas (NYSE:MGY)

Magnolia Oil & Gas Corp. engages in oil and gas exploration and production business. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on July 31, 2018 and is headquartered in Houston, TX.

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