Magnolia Oil & Gas (NYSE:MGY) Stock Rating Reaffirmed by Benchmark

Magnolia Oil & Gas (NYSE:MGY)‘s stock had its “hold” rating restated by Benchmark in a report issued on Tuesday, Benzinga reports.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. reduced their target price on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Piper Sandler reduced their target price on Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Mizuho reduced their price objective on Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Bank of America boosted their price objective on Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Truist Financial reduced their price objective on Magnolia Oil & Gas from $35.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Magnolia Oil & Gas presently has an average rating of “Hold” and an average target price of $27.50.

Magnolia Oil & Gas Trading Up 3.1 %

Shares of MGY stock opened at $26.35 on Tuesday. Magnolia Oil & Gas has a 12-month low of $19.16 and a 12-month high of $27.63. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.21. The stock’s 50-day moving average price is $25.09 and its 200-day moving average price is $25.42. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.36 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.05. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. The firm had revenue of $336.73 million for the quarter, compared to analysts’ expectations of $340.72 million. Equities research analysts predict that Magnolia Oil & Gas will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the completion of the transaction, the director now owns 2,099,403 shares in the company, valued at $54,290,561.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Magnolia Oil & Gas

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Magnolia Oil & Gas by 16.6% in the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock valued at $538,654,000 after purchasing an additional 2,956,314 shares during the period. American Century Companies Inc. boosted its holdings in shares of Magnolia Oil & Gas by 9.9% in the second quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock valued at $237,927,000 after purchasing an additional 847,542 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Magnolia Oil & Gas by 16.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock valued at $114,554,000 after purchasing an additional 627,933 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Magnolia Oil & Gas by 4.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,184,107 shares of the company’s stock valued at $82,628,000 after purchasing an additional 142,717 shares during the period. Finally, Boston Trust Walden Corp boosted its holdings in shares of Magnolia Oil & Gas by 26.7% in the second quarter. Boston Trust Walden Corp now owns 2,703,544 shares of the company’s stock valued at $68,508,000 after purchasing an additional 568,998 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.