In a report released today, Subash Chandra from Benchmark Co. maintained a Hold rating on Magnolia Oil & Gas (MGY – Research Report). The company’s shares closed yesterday at $20.42.
According to TipRanks, Chandra is a 4-star analyst with an average return of 11.2% and a 42.92% success rate. Chandra covers the Energy sector, focusing on stocks such as Devon Energy, APA, and Diamondback.
Currently, the analyst consensus on Magnolia Oil & Gas is a Moderate Buy with an average price target of $24.83, representing a 21.60% upside. In a report released yesterday, Wells Fargo also maintained a Hold rating on the stock with a $21.00 price target.
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Based on Magnolia Oil & Gas’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $315.68 million and a net profit of $102.03 million. In comparison, last year the company earned a revenue of $482.96 million and had a net profit of $245.48 million
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Magnolia Oil & Gas (MGY) Company Description:
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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