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

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) was downgraded by Johnson Rice from a "moderate buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other research analysts also recently weighed in on MGY. Wells Fargo & Company downgraded Magnolia Oil & Gas from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $26.00 to $22.00 in a research note on Tuesday, October 1st. Piper Sandler increased their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday. Benchmark reaffirmed a "hold" rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Truist Financial raised their price target on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a "buy" rating in a report on Monday, January 13th. Finally, Bank of America reaffirmed a "neutral" rating and issued a $28.00 price target (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $27.75.

Magnolia Oil & Gas Stock Down 1.3 %

Magnolia Oil & Gas stock traded down $0.33 during trading on Tuesday, hitting $24.47. 721,959 shares of the company were exchanged, compared to its average volume of 1,799,251. The business's 50 day moving average is $25.33 and its 200 day moving average is $25.51. Magnolia Oil & Gas has a 52 week low of $19.53 and a 52 week high of $29.02. The company has a market capitalization of $4.81 billion, a P/E ratio of 12.12, a PEG ratio of 3.26 and a beta of 2.00. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. The firm had revenue of $333.14 million during the quarter, compared to the consensus estimate of $331.45 million. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. Analysts predict that Magnolia Oil & Gas will post 1.98 earnings per share for the current year.

Institutional Investors Weigh In On Magnolia Oil & Gas

Large investors have recently made changes to their positions in the business. FMR LLC lifted its stake in shares of Magnolia Oil & Gas by 174.9% in the 3rd quarter. FMR LLC now owns 34,851 shares of the company's stock valued at $851,000 after purchasing an additional 22,171 shares during the period. Oliver Luxxe Assets LLC lifted its stake in shares of Magnolia Oil & Gas by 80.6% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company's stock valued at $2,140,000 after purchasing an additional 39,098 shares during the period. HighTower Advisors LLC purchased a new position in shares of Magnolia Oil & Gas in the 3rd quarter valued at approximately $353,000. Intech Investment Management LLC purchased a new position in shares of Magnolia Oil & Gas in the 3rd quarter valued at approximately $1,252,000. Finally, Citigroup Inc. lifted its stake in shares of Magnolia Oil & Gas by 30.6% in the 3rd quarter. Citigroup Inc. now owns 313,778 shares of the company's stock valued at $7,662,000 after purchasing an additional 73,431 shares during the period. 94.73% of the stock is currently 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.