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 research report released on Tuesday morning,Zacks.com reports.

Other analysts have also issued reports about the stock. Bank of America reiterated a “neutral” rating and set a $28.00 target price (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Truist Financial upped their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, January 13th. Wells Fargo & Company cut shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $26.00 to $22.00 in a report on Tuesday, October 1st. Finally, Mizuho raised their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.75.

Magnolia Oil & Gas Price Performance

MGY opened at $24.81 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. Magnolia Oil & Gas has a 1 year low of $19.53 and a 1 year high of $29.02. The stock’s 50 day simple moving average is $25.33 and its 200 day simple moving average is $25.51. The firm 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 issued its earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $333.14 million for the quarter, compared to analysts’ expectations of $331.45 million. As a group, analysts predict that Magnolia Oil & Gas will post 1.98 earnings per share for the current year.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of institutional investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. bought a new stake in shares of Magnolia Oil & Gas during the third quarter valued at approximately $25,000. First Horizon Advisors Inc. increased its holdings in shares of 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 purchasing an additional 396 shares in the last quarter. Mather Group LLC. raised its stake in shares of Magnolia Oil & Gas by 100.0% in the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock worth $25,000 after purchasing an additional 545 shares during the last quarter. R Squared Ltd bought a new position in shares of Magnolia Oil & Gas during the fourth quarter valued at $43,000. Finally, Avior Wealth Management LLC boosted its position in shares of Magnolia Oil & Gas by 30.0% during the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock valued at $51,000 after buying an additional 506 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

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.