Magnolia Oil & Gas (NYSE:MGY) Given New $38.00 Price Target at KeyCorp

Magnolia Oil & Gas (NYSE:MGY) had its target price raised by stock analysts at KeyCorp from $30.00 to $38.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price would suggest a potential upside of 25.99% from the stock’s current price.

MGY has been the topic of several other research reports. The Goldman Sachs Group boosted their price target on Magnolia Oil & Gas from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, February 11th. Siebert Williams Shank downgraded Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a report on Friday, March 6th. Roth Mkm reiterated a “buy” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, February 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Magnolia Oil & Gas in a report on Thursday, January 22nd. Finally, Zacks Research raised shares of Magnolia Oil & Gas from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.55.

Magnolia Oil & Gas Trading Down 4.5%

NYSE MGY opened at $30.16 on Thursday. Magnolia Oil & Gas has a 12-month low of $19.09 and a 12-month high of $32.76. The company has a fifty day simple moving average of $27.97 and a two-hundred day simple moving average of $24.67. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.20. The stock has a market cap of $5.62 billion, a P/E ratio of 17.54, a P/E/G ratio of 2.22 and a beta of 0.89.

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

Insider Buying and Selling

In other Magnolia Oil & Gas news, EVP Timothy D. Yang sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $29.29, for a total value of $4,393,500.00. Following the sale, the executive vice president owned 526,661 shares in the company, valued at approximately $15,425,900.69. This represents a 22.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Edward P. Djerejian sold 18,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $28.98, for a total transaction of $521,640.00. Following the sale, the director directly owned 110,425 shares in the company, valued at $3,200,116.50. The trade was a 14.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 338,954 shares of company stock valued at $9,911,733 in the last three months. 1.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Magnolia Oil & Gas

Institutional investors have recently modified their holdings of the business. AQR Capital Management LLC boosted its position in Magnolia Oil & Gas by 77.7% during the first quarter. AQR Capital Management LLC now owns 56,346 shares of the company’s stock worth $1,423,000 after purchasing an additional 24,631 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Magnolia Oil & Gas by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,109 shares of the company’s stock worth $2,605,000 after buying an additional 4,512 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Magnolia Oil & Gas by 8.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,880 shares of the company’s stock worth $6,135,000 after buying an additional 18,447 shares during the period. Intech Investment Management LLC lifted its position in shares of Magnolia Oil & Gas by 11.3% during the 1st quarter. Intech Investment Management LLC now owns 68,814 shares of the company’s stock valued at $1,738,000 after buying an additional 7,008 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Magnolia Oil & Gas by 23.9% in the 2nd quarter. Franklin Resources Inc. now owns 109,039 shares of the company’s stock valued at $2,451,000 after acquiring an additional 21,061 shares during the period. 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).