Wells Fargo analyst Hanwen Chang raised the firm’s price target on Magnolia Oil & Gas to $23 from $21 and keeps an Equal Weight rating on the shares. Magnolia’s recent acquisition and oil growth in Karnes County contributed to a rebound in oil ratio during Q4, the analyst tells investors in a research note. The firm expects the oil ratio to decline year over year, despite strong volume growth in 2024.
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Read More on MGY:
- Magnolia Oil & Gas initiated with a Buy at BofA
- Magnolia Oil & Gas price target raised to $33 from $32 at Truist
- Magnolia Oil & Gas Unveils Q4 and Annual Performance Update
- Magnolia Oil & Gas sees FY24 D&C capital spending $450M-$480M
- Magnolia Oil & Gas reports Q4 EPS 53c, consensus 53c
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