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Magnolia Oil & Gas (MGY) Gets a Buy Rating from Siebert Williams Shank & Co

Siebert Williams Shank & Co analyst Gabriele Sorbara reiterated a Buy rating on Magnolia Oil & Gas (MGYResearch Report) today and set a price target of $37.00. The company’s shares closed last Tuesday at $24.02.

According to TipRanks.com, Sorbara is a 5-star analyst with an average return of 12.7% and a 45.7% success rate. Sorbara covers the Utilities sector, focusing on stocks such as Centennial Resource Development, Continental Resources, and Chesapeake Energy.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Magnolia Oil & Gas with a $31.67 average price target, representing a 33.6% upside. In a report issued on July 19, Truist Financial also maintained a Buy rating on the stock with a $39.00 price target.

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Magnolia Oil & Gas’ market cap is currently $5.33B and has a P/E ratio of 8.34.

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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