Citigroup Issues Pessimistic Forecast for Magnolia Oil & Gas (NYSE:MGY) Stock Price

Magnolia Oil & Gas (NYSE:MGY) had its price target dropped by research analysts at Citigroup from $22.00 to $19.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “sell” rating on the stock. Citigroup’s target price would indicate a potential downside of 3.35% from the stock’s previous close.

A number of other brokerages have also recently commented on MGY. Mizuho raised their price objective 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. Johnson Rice downgraded shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Williams Trading set a $29.00 price objective on shares of Magnolia Oil & Gas in a report on Wednesday, March 5th. Truist Financial lifted their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Bank of America restated a “neutral” rating and issued a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.54.

Magnolia Oil & Gas Stock Down 4.4 %

Shares of Magnolia Oil & Gas stock traded down $0.90 during trading on Tuesday, reaching $19.66. 3,938,987 shares of the company traded hands, compared to its average volume of 2,791,680. The firm has a market capitalization of $3.82 billion, a PE ratio of 10.19, a P/E/G ratio of 3.01 and a beta of 1.57. Magnolia Oil & Gas has a 1-year low of $19.35 and a 1-year high of $29.02. The company has a 50 day moving average price of $23.81 and a 200-day moving average price of $25.05. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. The firm had revenue of $326.61 million for the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. As a group, equities research analysts expect that Magnolia Oil & Gas will post 2.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros acquired 2,500 shares of the stock in a transaction on Monday, March 3rd. The shares were acquired at an average price of $22.05 per share, with a total value of $55,125.00. Following the completion of the transaction, the chief executive officer now owns 892,372 shares in the company, valued at approximately $19,676,802.60. The trade was a 0.28 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Magnolia Oil & Gas

Large investors have recently modified their holdings of the stock. FMR LLC increased its position in Magnolia Oil & Gas by 174.9% in the third 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 last quarter. HighTower Advisors LLC bought a new position in shares of Magnolia Oil & Gas during the 3rd quarter worth $353,000. Charles Schwab Investment Management Inc. increased its holdings in Magnolia Oil & Gas by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,076,541 shares of the company’s stock worth $48,550,000 after acquiring an additional 85,524 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Magnolia Oil & Gas in the 4th quarter valued at about $590,000. Finally, Proficio Capital Partners LLC purchased a new stake in Magnolia Oil & Gas during the fourth quarter valued at about $292,000. 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.