Magnolia Oil & Gas - Rising Oil Prices Create Strong Prospects!
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Business Drivers: Magnolia Oil & Gas (MGY) is an oil and natural gas explorer that primarily focuses on the Eagle Ford Shale and Austin Chalk formations. Currently, it can benefit from the emerging recovery of oil and natural gas prices. In Q3, despite a decline in EPS from 53 cents to 41 cents, it met analyst expectations. On January 16, Bank of America upgraded its rating from "Neutral" to "Buy" and raised the price target from $26 to $28.
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