Magnolia Oil & Gas Stock Hits Analyst Target: What’s Next?
Recently, shares of Magnolia Oil & Gas Corp (Symbol: MGY) have surpassed the average analyst 12-month price target of $27.21, now trading at $27.24 per share. When a stock reaches its target, analysts typically face two choices: downgrade the stock due to valuation concerns or increase their target price. Decisions may also rest on recent company developments that might explain the rise in stock price, suggesting a potential for further upward movement.
The average price target for Magnolia Oil & Gas Corp is based on inputs from 14 analysts within the Zacks coverage universe. However, these figures can vary widely. There are analysts with lower targets—one expects the stock to hit only $22.00—while another has set an ambitious target of $33.00, leading to a standard deviation of $3.355 in expectations.
Looking at the average target gives investors insight into collective opinions rather than relying solely on one analyst’s view. As MGY exceeds the average price target of $27.21/share, it prompts investors to evaluate the company anew. Does this mark the beginning of a move toward an even higher target, or has the valuation hit a peak that calls for profit-taking? Below is a breakdown of the current analyst ratings for Magnolia Oil & Gas Corp:
| Recent MGY Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 7 | 7 | 7 | 7 |
| Buy ratings: | 0 | 0 | 0 | 0 |
| Hold ratings: | 6 | 5 | 7 | 7 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 2 | 2 | 1 | 1 |
| Average rating: | 2.33 | 2.29 | 2.2 | 2.2 |
The average rating in the table above ranges from 1 (Strong Buy) to 5 (Strong Sell). Data for this article was provided by Zacks Investment Research through Quandl.com. To keep updated, access the latest Zacks research report on MGY — FREE.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
