Susquehanna analyst Charles Minervino lowered the firm’s price target on Magnolia Oil & Gas to $30 from $31 and keeps a Positive rating on the shares. The firm lowered its 2025 oil price assumption to around $68/bbl and 2026/long-term assumption to $67/bbl. Tariffs have lowered global demand estimates and pushed down oil prices to begin 2Q as recession fears climb. OPEC+ is also beginning to unwind its 2.2MM barrels of voluntary production cuts beginning in April, adding significant supply back into the market.
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Read More on MGY:
- Magnolia Oil & Gas price target lowered to $25 from $26 at Piper Sandler
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- Magnolia Oil & Gas management to meet with Cantor Fitzgerald
- Magnolia Oil & Gas price target lowered to $19 from $22 at Citi
- Magnolia Oil & Gas price target lowered to $24 from $28 at JPMorgan
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