Northland Securities Believes Magnolia Oil & Gas (MGY) Won’t Stop Here

Northland Securities analyst Subash Chandra initiated coverage with a Buy rating on Magnolia Oil & Gas (MGY) today and set a price target of $12.00. The company’s shares closed last Tuesday at $11.74, close to its 52-week high of $13.35.

According to, Chandra is a 2-star analyst with an average return of 1.6% and a 44.9% success rate. Chandra covers the Utilities sector, focusing on stocks such as Continental Resources, Antero Resources, and Cabot Oil & Gas.

Currently, the analyst consensus on Magnolia Oil & Gas is a Moderate Buy with an average price target of $13.31, representing a 12.2% upside. In a report issued on April 5, Siebert Williams Shank & Co also initiated coverage with a Buy rating on the stock with a $14.00 price target.

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Based on Magnolia Oil & Gas’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $149 million and net profit of $27.75 million. In comparison, last year the company earned revenue of $230 million and had a net profit of $8.12 million.

Based on the recent corporate insider activity of 38 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.

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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.

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