Magnolia Oil & Gas (NYSE:MGY) Stock Rating Lowered by Johnson Rice

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

Several other equities research analysts have also recently weighed in on MGY. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. 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 research note on Monday, January 13th. 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. Piper Sandler raised their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Mizuho raised their target price 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. Two investment 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. According to MarketBeat.com, Magnolia Oil & Gas currently has a consensus rating of “Hold” and a consensus price target of $27.75.

Magnolia Oil & Gas Price Performance

MGY opened at $24.81 on Tuesday. The stock’s 50 day simple moving average is $25.33 and its 200 day simple moving average is $25.51. 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 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 posted its quarterly 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 return on equity of 20.78% and a net margin of 28.88%. The business had revenue of $333.14 million for the quarter, compared to analyst estimates of $331.45 million. As a group, analysts predict that Magnolia Oil & Gas will post 1.98 earnings per share for the current year.

Hedge Funds Weigh In On Magnolia Oil & Gas

Hedge funds and other institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new stake in Magnolia Oil & Gas during the third quarter valued at approximately $25,000. First Horizon Advisors Inc. increased its holdings in Magnolia Oil & Gas by 64.7% during 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 last quarter. Mather Group LLC. increased its holdings in Magnolia Oil & Gas by 100.0% during the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock valued at $25,000 after buying an additional 545 shares during the last quarter. R Squared Ltd purchased a new stake in Magnolia Oil & Gas during the fourth quarter valued at approximately $43,000. Finally, Avior Wealth Management LLC increased its holdings in 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 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.