Susquehanna has adjusted its price target for Magnolia Oil & Gas (MGY, Financial), reducing it to $30 from the previous $31, while maintaining a Positive rating on the stocks. This change comes as the firm revises its forecasts for oil prices, with expectations for 2025 set at $68 per barrel and long-term projections at $67 per barrel.
The adjustment reflects broader market conditions where tariffs have tempered global demand and led to declining oil prices as fears of a recession loom large. In addition, OPEC+ is set to reverse its earlier decision by gradually phasing out 2.2 million barrels of voluntary production cuts starting in April, which will increase the supply available in the market.
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.
