Roth MKM reiterated a Buy rating and $28 price target on Magnolia Oil & Gas. The firm expects the shares to have a “slight” negative reaction compared to peers on Wednesday after senior VP of operations Steve Millican filed to sell over 195,000 shares for total proceeds of $4.7M. Roth remains Buy, however, based on the company’s high per share production growth, upside potential in the Austin Chalk play, best-in-class balance sheet, and strong, consistent returns of capital to shareholders.
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Read More on MGY:
- Magnolia Oil & Gas Board Appointment and Disclosure Update
- Magnolia Oil & Gas price target raised to $30 from $29 at Wolfe Research
- Magnolia Oil & Gas price target lowered to $24 from $26 at Piper Sandler
- Magnolia Oil & Gas price target raised to $28 from $27 at Mizuho
- Magnolia Oil & Gas price target raised to $25 from $23 at JPMorgan
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
