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What is Wall Street's Target Price for Magnolia Oil & Gas Corp (MGY) Stock Tuesday?

Tuesday, February 27, 2024 01:09 PM | InvestorsObserver Analysts

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What is Wall Street's Target Price for Magnolia Oil & Gas Corp (MGY) Stock Tuesday?

Wall Street is positive on Magnolia Oil & Gas Corp (MGY). On average, analysts give the stock a Buy rating. The average price target is $24.187, which means analysts expect the stock to add by 8.80% over the next twelve months. That average ranking earns the stock an Analyst Rating of 20, which is better than 20% of stocks based on data compiled by InvestorsObserver.

Overall Score - 3.5
Wall Street analysts are rating MGY a Buy today. Find out what this means to you and get the rest of the rankings on MGY!

Why are Analyst Ratings Important?

Though analyst projections should not be your only resource when determining your position on a stock, it can be a very useful tool. Analysts follow sectors/industries in-depth and tend to know how local and global conditions tend to affect demand and prices. Many analysts even participate in conference calls where they can get information to better make sense of the numbers. InvestorsObserver averages the ratings provided by analysts and then ranks their score as a percent against the market. This allows you to compare stocks in a more comprehensive fashion than with the typical buy/sell/hold ranking.

What's Happening With Magnolia Oil & Gas Corp Stock Today?

Magnolia Oil & Gas Corp (MGY) stock is higher by 1.07% while the S&P 500 is lower by -0.13% as of 1:07 PM on Tuesday, Feb 27. MGY has gained $0.24 from the previous closing price of $21.99 on volume of 779,727 shares. Over the past year the S&P 500 has risen 27.14% while MGY has gained 0.72%. MGY earned $2.06 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 10.76. Click Here to get the full Stock Report for Magnolia Oil & Gas Corp stock.

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