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Magnolia Oil & Gas (MGY) Receives a Rating Update from a Top Analyst

Wells Fargo analyst Nitin Kumar CFA maintained a Hold rating on Magnolia Oil & Gas (MGYResearch Report) today and set a price target of $30.00. The company’s shares closed last Friday at $20.20.

According to TipRanks.com, CFA is a top 100 analyst with an average return of 31.0% and a 75.7% success rate. CFA covers the Utilities sector, focusing on stocks such as Continental Resources, Southwestern Energy, and Matador Resources.

Magnolia Oil & Gas has an analyst consensus of Moderate Buy, with a price target consensus of $31.14.

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Based on Magnolia Oil & Gas’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $378 million and net profit of $166 million. In comparison, last year the company earned revenue of $209 million and had a net profit of $63.24 million.

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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