Magnolia Oil & Gas (NYSE:MGY) Cut to “Hold” at Siebert Williams Shank

Magnolia Oil & Gas (NYSE:MGY) was downgraded by investment analysts at Siebert Williams Shank from a “buy” rating to a “hold” rating in a research report issued on Friday, MarketBeat Ratings reports.

Several other equities research analysts have also recently commented on MGY. Wells Fargo & Company set a $25.00 price objective on shares of Magnolia Oil & Gas in a research report on Monday, February 16th. Roth Mkm reaffirmed a “buy” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, February 10th. Mizuho set a $30.00 target price on shares of Magnolia Oil & Gas in a research note on Friday, February 6th. UBS Group boosted their price target on Magnolia Oil & Gas from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, KeyCorp raised their price objective on Magnolia Oil & Gas from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. Eight investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $28.18.

Magnolia Oil & Gas Stock Performance

Magnolia Oil & Gas stock opened at $29.51 on Friday. Magnolia Oil & Gas has a 52-week low of $19.09 and a 52-week high of $29.51. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 1.54. The stock has a fifty day moving average price of $24.89 and a two-hundred day moving average price of $23.83. The firm has a market capitalization of $5.50 billion, a P/E ratio of 17.16 and a beta of 0.89.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. The company had revenue of $317.63 million during the quarter, compared to analyst estimates of $322.18 million. During the same quarter last year, the business posted $0.44 earnings per share. The company’s revenue was down 2.8% on a year-over-year basis. As a group, analysts anticipate that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Institutional Trading of Magnolia Oil & Gas

Large investors have recently modified their holdings of the stock. Campbell & CO Investment Adviser LLC increased its position in shares of Magnolia Oil & Gas by 325.0% during the second quarter. Campbell & CO Investment Adviser LLC now owns 214,211 shares of the company’s stock worth $4,815,000 after buying an additional 163,804 shares during the period. American Century Companies Inc. raised its position in shares of Magnolia Oil & Gas by 12.9% during the second quarter. American Century Companies Inc. now owns 11,861,231 shares of the company’s stock worth $266,641,000 after purchasing an additional 1,358,878 shares during the period. TimesSquare Capital Management LLC increased its position in shares of Magnolia Oil & Gas by 1.9% during the second quarter. TimesSquare Capital Management LLC now owns 691,959 shares of the company’s stock worth $15,555,000 after acquiring an additional 12,638 shares in the last quarter. Intech Investment Management LLC lifted its position in Magnolia Oil & Gas by 16.3% in the 2nd quarter. Intech Investment Management LLC now owns 80,021 shares of the company’s stock valued at $1,799,000 after acquiring an additional 11,207 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Magnolia Oil & Gas by 16,251.3% during the 3rd quarter. Pacer Advisors Inc. now owns 626,745 shares of the company’s stock valued at $14,960,000 after purchasing an additional 622,912 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).