Magnolia Oil & Gas (NYSE:MGY) Stock Price Up 4.1%

Magnolia Oil & Gas Co. (NYSE:MGY)’s share price rose 4.1% on Friday . The company traded as high as $21.99 and last traded at $21.93. Approximately 3,039 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 1,298,865 shares. The stock had previously closed at $21.06.

MGY has been the subject of a number of analyst reports. Piper Sandler upped their price objective on shares of Magnolia Oil & Gas from $18.00 to $25.00 and gave the stock an “overweight” rating in a research report on Thursday, October 21st. Credit Suisse Group boosted their target price on shares of Magnolia Oil & Gas from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 2nd. Wells Fargo & Company cut shares of Magnolia Oil & Gas from an “overweight” rating to an “equal weight” rating and set a $23.00 target price for the company. in a research note on Wednesday, January 5th. TheStreet cut shares of Magnolia Oil & Gas from a “b-” rating to a “c” rating in a research note on Friday, November 26th. Finally, Benchmark started coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, October 26th. They set a “hold” rating for the company. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $20.88.

The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of 12.54 and a beta of 2.46. 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 stock’s fifty day simple moving average is $19.69 and its 200-day simple moving average is $17.63.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Sunday, October 31st. The company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.06. The company had revenue of $283.58 million for the quarter, compared to analyst estimates of $278.35 million. Magnolia Oil & Gas had a net margin of 33.08% and a return on equity of 35.78%. The firm’s quarterly revenue was up 134.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.06 EPS. On average, analysts anticipate that Magnolia Oil & Gas Co. will post 2.37 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hudson Bay Capital Management LP purchased a new position in shares of Magnolia Oil & Gas in the 3rd quarter valued at $4,304,000. Moors & Cabot Inc. purchased a new position in shares of Magnolia Oil & Gas in the 3rd quarter valued at $25,000. Bank of New York Mellon Corp grew its position in shares of Magnolia Oil & Gas by 7.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 535,818 shares of the company’s stock valued at $9,532,000 after buying an additional 38,715 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of Magnolia Oil & Gas in the 3rd quarter valued at $538,000. Finally, Captrust Financial Advisors grew its position in shares of Magnolia Oil & Gas by 35.2% in the 3rd quarter. Captrust Financial Advisors now owns 2,445 shares of the company’s stock valued at $43,000 after buying an additional 637 shares during the last quarter.

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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