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

Johnson Rice cut shares of Magnolia Oil & Gas (NYSE:MGY) from a moderate buy rating to a hold rating in a research note published on Tuesday morning,Zacks.com reports.

A number of other research firms have also recently commented on MGY. Siebert Williams Shank cut Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a report on Tuesday, October 15th. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Bank of America restated a “neutral” rating and issued a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Wells Fargo & Company cut shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $26.00 to $22.00 in a research report on Tuesday, October 1st. Finally, Truist Financial upped their target price on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Magnolia Oil & Gas presently has a consensus rating of “Hold” and a consensus target price of $27.75.

Magnolia Oil & Gas Trading Down 1.2 %

Shares of Magnolia Oil & Gas stock opened at $24.50 on Tuesday. Magnolia Oil & Gas has a 1-year low of $19.53 and a 1-year high of $29.02. The company’s fifty day simple moving average is $25.25 and its 200-day simple moving average is $25.50. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market capitalization of $4.81 billion, a PE ratio of 12.13, a P/E/G ratio of 3.26 and a beta of 2.00.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The business had revenue of $333.14 million during the quarter, compared to analyst estimates of $331.45 million. As a group, equities analysts anticipate that Magnolia Oil & Gas will post 1.98 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vista Finance LLC purchased a new position in shares of Magnolia Oil & Gas in the 4th quarter worth approximately $255,000. Rhumbline Advisers lifted its position in Magnolia Oil & Gas by 1.6% in the fourth quarter. Rhumbline Advisers now owns 539,434 shares of the company’s stock worth $12,612,000 after buying an additional 8,308 shares during the last quarter. New York State Teachers Retirement System boosted its stake in Magnolia Oil & Gas by 7.1% during the fourth quarter. New York State Teachers Retirement System now owns 69,120 shares of the company’s stock worth $1,616,000 after buying an additional 4,583 shares during the period. Legato Capital Management LLC bought a new position in Magnolia Oil & Gas during the fourth quarter valued at $276,000. Finally, Louisiana State Employees Retirement System raised its stake in shares of Magnolia Oil & Gas by 1.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 92,400 shares of the company’s stock valued at $2,160,000 after acquiring an additional 1,400 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 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.