Magnolia Oil & Gas (NYSE:MGY) Cut to Hold at Johnson Rice

Magnolia Oil & Gas (NYSE:MGY) was downgraded by analysts at Johnson Rice from a “moderate buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other research analysts have also recently issued reports on MGY. Piper Sandler lifted their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday. Mizuho boosted their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Wells Fargo & Company downgraded Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $26.00 to $22.00 in a report on Tuesday, October 1st. Finally, Truist Financial raised their target price 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $27.75.

Magnolia Oil & Gas Stock Performance

NYSE MGY opened at $24.81 on Tuesday. The stock has a market cap of $4.88 billion, a P/E ratio of 12.28, a PEG ratio of 3.26 and a beta of 2.00. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas has a twelve month low of $19.53 and a twelve month high of $29.02. The company’s 50-day simple moving average is $25.33 and its 200 day simple moving average is $25.51.

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 analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $333.14 million during the quarter, compared to analysts’ expectations of $331.45 million. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. As a group, research analysts forecast that Magnolia Oil & Gas will post 1.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several institutional investors have recently modified their holdings of MGY. First Horizon Advisors Inc. lifted its stake in Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock valued at $25,000 after buying an additional 396 shares during the period. Albert D Mason Inc. raised its position in shares of Magnolia Oil & Gas by 0.7% in the 4th quarter. Albert D Mason Inc. now owns 61,497 shares of the company’s stock valued at $1,438,000 after acquiring an additional 411 shares during the period. Jennison Associates LLC raised its position in shares of Magnolia Oil & Gas by 2.2% in the 3rd quarter. Jennison Associates LLC now owns 23,836 shares of the company’s stock valued at $582,000 after acquiring an additional 506 shares during the period. Avior Wealth Management LLC boosted its stake in Magnolia Oil & Gas by 30.0% during the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock worth $51,000 after acquiring an additional 506 shares during the last quarter. Finally, Atria Investments Inc grew its holdings in Magnolia Oil & Gas by 2.3% during the third quarter. Atria Investments Inc now owns 23,576 shares of the company’s stock valued at $576,000 after purchasing an additional 523 shares during the period. Institutional investors and hedge funds 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.