Magnolia Oil & Gas (NYSE:MGY) Cut to Neutral at The Goldman Sachs Group

The Goldman Sachs Group cut shares of Magnolia Oil & Gas (NYSE:MGY) from a buy rating to a neutral rating in a research report report published on Friday, Marketbeat.com reports. The Goldman Sachs Group currently has $26.00 price target on the stock, down from their previous price target of $27.00.

MGY has been the topic of a number of other research reports. Siebert Williams Shank lowered Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research note on Tuesday, October 15th. Piper Sandler raised their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Mizuho lifted their price target on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Finally, Bank of America reiterated a “neutral” rating and issued a $28.00 price target (down previously from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Magnolia Oil & Gas presently has a consensus rating of “Hold” and a consensus price target of $27.58.

Magnolia Oil & Gas Price Performance

Shares of NYSE MGY opened at $23.71 on Friday. The firm has a market cap of $4.66 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 3.12 and a beta of 2.00. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas has a 1-year low of $19.53 and a 1-year high of $29.02. The business’s 50 day moving average is $25.15 and its 200-day moving average is $25.46.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its holdings in Magnolia Oil & Gas by 174.9% during the 3rd quarter. FMR LLC now owns 34,851 shares of the company’s stock worth $851,000 after buying an additional 22,171 shares during the period. Oliver Luxxe Assets LLC lifted its stake in shares of Magnolia Oil & Gas by 80.6% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company’s stock valued at $2,140,000 after purchasing an additional 39,098 shares during the period. HighTower Advisors LLC acquired a new position in shares of Magnolia Oil & Gas in the 3rd quarter valued at about $353,000. Intech Investment Management LLC acquired a new position in shares of Magnolia Oil & Gas in the 3rd quarter valued at about $1,252,000. Finally, Citigroup Inc. lifted its stake in shares of Magnolia Oil & Gas by 30.6% in the 3rd quarter. Citigroup Inc. now owns 313,778 shares of the company’s stock valued at $7,662,000 after purchasing an additional 73,431 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

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.