Magnolia Oil & Gas' (MGY) Neutral Rating Reaffirmed at Bank of America

Magnolia Oil & Gas (NYSE:MGY - Get Free Report)'s stock had its "neutral" rating restated by equities research analysts at Bank of America in a research note issued on Monday, Marketbeat Ratings reports. They presently have a $28.00 target price on the stock, down from their prior target price of $29.00. Bank of America's target price indicates a potential upside of 10.15% from the company's current price.

MGY has been the subject of several other reports. Wells Fargo & Company downgraded shares of Magnolia Oil & Gas from an "equal weight" rating to an "underweight" rating and cut their price objective for the stock from $26.00 to $22.00 in a research report on Tuesday, October 1st. Mizuho increased their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a "neutral" rating in a research report on Monday, December 16th. Benchmark reissued a "hold" rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Piper Sandler lowered their price target on shares of Magnolia Oil & Gas from $26.00 to $24.00 and set a "neutral" rating on the stock in a research report on Tuesday, December 17th. Finally, Truist Financial boosted their price objective on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a "buy" rating in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $27.58.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock traded up $0.54 on Monday, reaching $25.42. The stock had a trading volume of 2,199,624 shares, compared to its average volume of 1,981,887. Magnolia Oil & Gas has a 12 month low of $19.16 and a 12 month high of $29.02. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 1.29 and a beta of 2.00. The firm's 50-day moving average is $25.64 and its two-hundred day moving average is $25.50.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $331.45 million. On average, research analysts expect that Magnolia Oil & Gas will post 2 EPS for the current fiscal year.

Hedge Funds Weigh In On Magnolia Oil & Gas

A number of institutional investors and hedge funds have recently bought and sold shares of MGY. BOKF NA grew its stake in shares of Magnolia Oil & Gas by 87.8% in the second quarter. BOKF NA now owns 19,321 shares of the company's stock worth $490,000 after purchasing an additional 9,031 shares during the last quarter. Federated Hermes Inc. acquired a new stake in shares of Magnolia Oil & Gas in the second quarter valued at about $6,686,000. Oppenheimer Asset Management Inc. raised its position in shares of Magnolia Oil & Gas by 15.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 37,927 shares of the company's stock worth $961,000 after acquiring an additional 5,100 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Magnolia Oil & Gas by 9.4% during the second quarter. Envestnet Asset Management Inc. now owns 388,289 shares of the company's stock worth $9,839,000 after acquiring an additional 33,411 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. acquired a new position in shares of Magnolia Oil & Gas in the second quarter worth approximately $14,201,000. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.