Piper Sandler has adjusted its price target for Magnolia Oil & Gas (MGY, Financial), reducing it slightly from $26 to $25, while maintaining a Neutral rating on the stock. The revision comes amidst challenging conditions leading into the first quarter, including trade-war tensions and general macroeconomic uncertainty. Additionally, the market faces increased supply from OPEC+ and complex seasonal gas trends, influencing investor sentiment and market dynamics.
Despite the volatility presenting potential opportunities for companies with substantial low-cost inventories and robust financial health, Piper Sandler has expressed a preference for oil over gas as the market progresses into the first quarter. This inclination considers the impact of market reversion and investor positioning on short-term performance. Investors might see varied outcomes depending on these factors, leading the firm to adopt a cautious stance for the time being.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 14 analysts, the average target price for Magnolia Oil & Gas Corp (MGY, Financial) is $27.14 with a high estimate of $34.00 and a low estimate of $19.00. The average target implies an upside of 34.44% from the current price of $20.19. More detailed estimate data can be found on the Magnolia Oil & Gas Corp (MGY) Forecast page.
Based on the consensus recommendation from 17 brokerage firms, Magnolia Oil & Gas Corp's (MGY, Financial) average brokerage recommendation is currently 2.6, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Magnolia Oil & Gas Corp (MGY, Financial) in one year is $23.27, suggesting a upside of 15.26% from the current price of $20.19. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Magnolia Oil & Gas Corp (MGY) Summary page.
