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

Magnolia Oil & Gas (NYSE:MGY) had its target price lowered by Citigroup from $29.00 to $27.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price suggests a potential upside of 3.58% from the company’s previous close.

Several other equities research analysts have also recently commented on MGY. Roth Capital dropped their target price on Magnolia Oil & Gas from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Wall Street Zen raised Magnolia Oil & Gas from a “hold” rating to a “buy” rating in a research note on Saturday. Truist Financial upgraded Magnolia Oil & Gas from a “hold” rating to a “buy” rating and lifted their price target for the company from $32.00 to $33.00 in a research report on Tuesday, July 28th. Wells Fargo & Company dropped their price objective on Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 13th. Finally, Mizuho raised Magnolia Oil & Gas to a “strong-buy” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.17.

Magnolia Oil & Gas Price Performance

MGY traded up $0.06 on Tuesday, reaching $26.07. The company had a trading volume of 1,611,994 shares, compared to its average volume of 3,409,085. The company has a fifty day moving average of $26.15 and a 200-day moving average of $27.65. The company has a market capitalization of $4.82 billion, a P/E ratio of 11.43 and a beta of 0.72. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.18. Magnolia Oil & Gas has a one year low of $21.07 and a one year high of $32.76.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. The company had revenue of $478.81 million for the quarter, compared to the consensus estimate of $458.10 million. Magnolia Oil & Gas had a net margin of 28.77% and a return on equity of 21.04%. Magnolia Oil & Gas’s revenue was up 50.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 EPS. As a group, equities research analysts anticipate that Magnolia Oil & Gas will post 2.81 earnings per share for the current year.

Hedge Funds Weigh In On Magnolia Oil & Gas

Large investors have recently modified their holdings of the business. AQR Capital Management LLC boosted its holdings in shares of Magnolia Oil & Gas by 77.7% in the 1st quarter. AQR Capital Management LLC now owns 56,346 shares of the company’s stock valued at $1,423,000 after buying an additional 24,631 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Magnolia Oil & Gas by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,109 shares of the company’s stock valued at $2,605,000 after acquiring an additional 4,512 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Magnolia Oil & Gas by 8.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,880 shares of the company’s stock worth $6,135,000 after purchasing an additional 18,447 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Magnolia Oil & Gas by 11.3% during the 1st quarter. Intech Investment Management LLC now owns 68,814 shares of the company’s stock worth $1,738,000 after purchasing an additional 7,008 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Magnolia Oil & Gas by 165.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after purchasing an additional 864 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).