Analyst Provides Guidance for This Canadian Energy Stock

J.P. Morgan analyst Zach Parham maintained a Hold rating on Magnolia Oil & Gas (MGYResearch Report) on July 14 and set a price target of $28.00. The company’s shares closed last Friday at $19.83.

According to TipRanks.com, Parham is a 3-star analyst with an average return of 1.4% and a 55.6% success rate. Parham covers the Utilities sector, focusing on stocks such as National Fuel Gas Company, Matador Resources, and Chesapeake Energy.

Magnolia Oil & Gas has an analyst consensus of Moderate Buy, with a price target consensus of $31.50, representing a 57.6% upside. In a report issued on July 11, Wells Fargo also maintained a Hold rating on the stock with a $30.00 price target.

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Magnolia Oil & Gas’ market cap is currently $4.4B and has a P/E ratio of 6.89.

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MGY in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Magnolia Oil & Gas Corp. is engaged 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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