Magnolia Oil & Gas (NYSE:MGY) Rating Lowered to “Hold” at Johnson Rice

Magnolia Oil & Gas (NYSE:MGY) was downgraded by research analysts at Johnson Rice from a “moderate buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other equities research analysts also recently commented on MGY. Siebert Williams Shank lowered shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research note on Tuesday, October 15th. Piper Sandler raised their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wells Fargo & Company lowered Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $26.00 to $22.00 in a research report on Tuesday, October 1st. Mizuho raised their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Finally, Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $27.75.

Magnolia Oil & Gas Trading Down 0.2 %

Shares of NYSE MGY opened at $24.81 on Tuesday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas has a 12 month low of $19.53 and a 12 month high of $29.02. The company has a market cap of $4.88 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 3.26 and a beta of 2.00. The business has a fifty day simple moving average of $25.33 and a 200-day simple moving average of $25.51.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $333.14 million during the quarter, compared to analyst estimates of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. Sell-side analysts predict that Magnolia Oil & Gas will post 1.98 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC acquired a new stake in Magnolia Oil & Gas in the 2nd quarter valued at approximately $262,000. Bank of Montreal Can increased its position in Magnolia Oil & Gas by 1.8% during the second quarter. Bank of Montreal Can now owns 36,716 shares of the company’s stock worth $931,000 after acquiring an additional 640 shares during the period. AQR Capital Management LLC raised its stake in Magnolia Oil & Gas by 25.8% during the 2nd quarter. AQR Capital Management LLC now owns 20,832 shares of the company’s stock valued at $528,000 after purchasing an additional 4,276 shares during the last quarter. Algert Global LLC bought a new stake in Magnolia Oil & Gas in the 2nd quarter valued at $442,000. Finally, Creative Planning grew its position in Magnolia Oil & Gas by 21.3% in the 2nd quarter. Creative Planning now owns 63,589 shares of the company’s stock worth $1,611,000 after purchasing an additional 11,160 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.