Northland Securities analyst Jeff Grampp maintained a Buy rating on Magnolia Oil & Gas Corporation (MGY) on March 17 and set a price target of $19. The company’s shares closed yesterday at $12.44.
According to TipRanks.com, Grampp ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -10.1% and a 35.3% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sundance Energy Australia, Goodrich Petroleum Corp, and Lonestar Resources US.
Currently, the analyst consensus on Magnolia Oil & Gas Corporation is a Strong Buy with an average price target of $16.75.
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Based on Magnolia Oil & Gas Corporation’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $32.92 million. In comparison, last year the company had a net profit of $614.2K.
Based on the recent corporate insider activity of 45 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. 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.
