Magnolia Oil & Gas (NYSE:MGY) Given New $32.00 Price Target at Citigroup

Magnolia Oil & Gas (NYSE:MGY) had its target price dropped by equities researchers at Citigroup from $35.00 to $32.00 in a report released on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential upside of 7.89% from the company’s previous close.

Several other equities analysts have also issued reports on the company. BMO Capital Markets initiated coverage on Magnolia Oil & Gas in a research note on Friday, January 9th. They issued an “outperform” rating and a $27.00 price target on the stock. Zacks Research raised Magnolia Oil & Gas from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 26th. Truist Financial started coverage on Magnolia Oil & Gas in a research note on Tuesday, March 24th. They issued a “hold” rating and a $33.00 price target on the stock. The Goldman Sachs Group upped their target price on Magnolia Oil & Gas from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 11th. Finally, Wells Fargo & Company reaffirmed a “mixed” rating on shares of Magnolia Oil & Gas in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, Magnolia Oil & Gas currently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

Magnolia Oil & Gas Trading Down 0.8%

MGY traded down $0.24 during trading on Monday, hitting $29.66. The company’s stock had a trading volume of 638,923 shares, compared to its average volume of 3,027,894. Magnolia Oil & Gas has a twelve month low of $19.97 and a twelve month high of $32.76. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.20. The stock’s fifty day moving average price is $28.80 and its 200-day moving average price is $24.98. The firm has a market capitalization of $5.53 billion, a P/E ratio of 17.23, a PEG ratio of 1.89 and a beta of 0.83.

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

Insider Activity at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros sold 119,954 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $29.29, for a total value of $3,513,452.66. Following the completion of the sale, the chief executive officer directly owned 883,592 shares of the company’s stock, valued at approximately $25,880,409.68. This represents a 11.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Edward P. Djerejian sold 18,000 shares of the company’s stock in a transaction 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 transaction, the director owned 110,425 shares of the company’s stock, valued at $3,200,116.50. This trade represents a 14.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 338,954 shares of company stock valued at $9,911,733 over the last three months. 0.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Lido Advisors LLC grew its stake in Magnolia Oil & Gas by 2.4% in the 4th quarter. Lido Advisors LLC now owns 16,197 shares of the company’s stock valued at $382,000 after purchasing an additional 387 shares during the period. Oak Family Advisors LLC grew its stake in shares of Magnolia Oil & Gas by 0.9% during the 4th quarter. Oak Family Advisors LLC now owns 47,620 shares of the company’s stock worth $1,042,000 after acquiring an additional 410 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Magnolia Oil & Gas by 10.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,624 shares of the company’s stock worth $102,000 after acquiring an additional 422 shares during the period. GAMMA Investing LLC grew its stake in shares of Magnolia Oil & Gas by 8.0% during the 4th quarter. GAMMA Investing LLC now owns 6,130 shares of the company’s stock worth $134,000 after acquiring an additional 453 shares during the period. Finally, Coldstream Capital Management Inc. grew its stake in shares of Magnolia Oil & Gas by 3.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company’s stock worth $380,000 after acquiring an additional 482 shares during the period. Institutional investors own 94.73% of the company’s stock.

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).