Magnolia Oil & Gas (NYSE:MGY) Stock Rating Lowered by Wall Street Zen

Magnolia Oil & Gas (NYSE:MGY) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday, Wall Street Zen reports.

MGY has been the topic of several other reports. Seaport Research Partners assumed coverage on shares of Magnolia Oil & Gas in a research report on Thursday, September 3rd. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. raised shares of Magnolia Oil & Gas from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $32.00 to $33.00 in a research report on Tuesday, September 8th. Johnson Rice upgraded shares of Magnolia Oil & Gas from a “hold” rating to an “accumulate” rating and reduced their target price for the company from $33.00 to $32.00 in a research note on Monday, August 17th. Roth Capital reduced their target price on shares of Magnolia Oil & Gas from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Finally, Citigroup decreased their target price on Magnolia Oil & Gas from $29.00 to $27.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.59.

Magnolia Oil & Gas Trading Down 4.4%

Shares of Magnolia Oil & Gas stock opened at $22.64 on Friday. The company’s fifty day simple moving average is $25.36 and its 200-day simple moving average is $27.04. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 8.95 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 1 year low of $21.07 and a 1 year high of $32.76.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, November 4th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.13. The business had revenue of $513.89 million for the quarter, compared to analyst estimates of $474.39 million. Magnolia Oil & Gas had a net margin of 25.82% and a return on equity of 25.19%. Magnolia Oil & Gas’s revenue was up 58.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 earnings per share. As a group, sell-side analysts expect that Magnolia Oil & Gas will post 2.85 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Intech Investment Management LLC raised its stake in shares of Magnolia Oil & Gas by 91.8% in the 3rd quarter. Intech Investment Management LLC now owns 84,025 shares of the company’s stock valued at $1,974,000 after buying an additional 40,219 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Magnolia Oil & Gas by 17.7% during the 3rd quarter. Bessemer Group Inc. now owns 1,570,049 shares of the company’s stock worth $36,882,000 after acquiring an additional 235,951 shares during the period. Danske Bank A S bought a new position in shares of Magnolia Oil & Gas during the 3rd quarter worth about $225,000. Allworth Financial LP boosted its position in shares of Magnolia Oil & Gas by 12.4% during the 3rd quarter. Allworth Financial LP now owns 6,472 shares of the company’s stock valued at $166,000 after acquiring an additional 712 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Magnolia Oil & Gas by 323.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 991,341 shares of the company’s stock valued at $23,287,000 after acquiring an additional 757,202 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

About Magnolia Oil & Gas