Northland Securities analyst Jeff Grampp maintained a Buy rating on Magnolia Oil & Gas Corporation (MGY) today and set a price target of $19. The company’s shares opened today at $12.26.
According to TipRanks.com, Grampp is ranked 0 out of 5 stars with an average return of -11.7% and a 30.5% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Penn Virginia Corporation, Goodrich Petroleum Corp, and Resolute Energy Corp.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Magnolia Oil & Gas Corporation with a $16.60 average price target, a 35.4% upside from current levels. In a report released yesterday, Oppenheimer also assigned a Buy rating to the stock.
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The company has a one-year high of $15.23 and a one-year low of $9.72. Currently, Magnolia Oil & Gas Corporation has an average volume of 1.12M.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MGY in relation to earlier this year.
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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.
