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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