Magnolia Oil & Gas (MGY) Update - April 11

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dan_s
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Joined: Fri Apr 23, 2010 8:22 am

Magnolia Oil & Gas (MGY) Update - April 11

Post by dan_s »

Magnolia Oil & Gas (MGY) initiated with an Overweight at JPMorgan

JPMorgan analyst Michael Glick started Magnolia Oil & Gas with an Overweight rating and $16 price target. The company has ample liquidity to continue to build scale via bolt-on acquisitions in the Eagle Ford or other low-decline assets, Glick tells investors in a research note. Further, the analyst expects Magnolia will begin paying a dividend in the coming years.

MGY closed today at $13.28.

In the last 3 months, 5 ranked analysts set 12-month price targets for MGY. The average price target among the analysts is $16.40. Their valuations range from $15 to $19.
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One of our top shelf MBA's has finished her work on the Magnolia profile. I will finish my review and we will publish it this week. This one has been high on my Watch List for several months, but I am FINALLY getting the time to take a hard look at it.
Dan Steffens
Energy Prospectus Group
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