Magnolia Oil & Gas (NYSE:MGY) Downgraded by Johnson Rice to “Hold”

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

MGY has been the subject of several other reports. Piper Sandler increased their price objective on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Truist Financial increased their price target on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Mizuho upped their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Finally, Wells Fargo & Company lowered shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $26.00 to $22.00 in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of “Hold” and a consensus target price of $27.75.

Magnolia Oil & Gas Trading Down 0.2 %

Shares of MGY stock opened at $24.81 on Tuesday. The firm has a fifty day moving average price of $25.33 and a 200-day moving average price of $25.51. Magnolia Oil & Gas has a 1 year low of $19.53 and a 1 year high of $29.02. 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 company has a market cap of $4.88 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 3.26 and a beta of 2.00.

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

Institutional Trading of Magnolia Oil & Gas

Several institutional investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new position in Magnolia Oil & Gas in the 3rd quarter worth about $25,000. First Horizon Advisors Inc. grew its stake in Magnolia Oil & Gas by 64.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after acquiring an additional 396 shares in the last quarter. Mather Group LLC. increased its position in shares of Magnolia Oil & Gas by 100.0% during the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock worth $25,000 after acquiring an additional 545 shares during the period. R Squared Ltd bought a new stake in shares of Magnolia Oil & Gas during the fourth quarter valued at approximately $43,000. Finally, Avior Wealth Management LLC boosted its holdings in shares of Magnolia Oil & Gas by 30.0% in the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock valued at $51,000 after purchasing an additional 506 shares during the period. Institutional investors own 94.73% of the company’s stock.

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.