Magnolia Oil & Gas (NYSE:MGY) Now Covered by KeyCorp

KeyCorp initiated coverage on shares of Magnolia Oil & Gas (NYSE:MGY) in a report released on Monday morning, Briefing.com Automated Import reports. The brokerage issued an overweight rating and a $14.00 target price on the stock.

A number of other equities analysts have also recently weighed in on the stock. Citigroup lifted their price target on shares of Magnolia Oil & Gas from $11.50 to $12.00 and gave the stock a neutral rating in a research report on Monday, September 23rd. Barclays assumed coverage on shares of Magnolia Oil & Gas in a research report on Friday, August 30th. They set an overweight rating and a $13.00 price target on the stock. ValuEngine cut shares of Magnolia Oil & Gas from a hold rating to a sell rating in a research report on Friday, November 8th. Piper Jaffray Companies reduced their price target on shares of Magnolia Oil & Gas from $14.00 to $13.00 and set an overweight rating on the stock in a research report on Monday, September 30th. Finally, R. F. Lafferty set a $20.00 price target on shares of Magnolia Oil & Gas and gave the stock a buy rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $15.38.

Shares of NYSE MGY traded down $0.23 during midday trading on Monday, reaching $11.24. 1,494,018 shares of the stock were exchanged, compared to its average volume of 1,290,346. The business has a 50-day simple moving average of $10.70 and a two-hundred day simple moving average of $11.02. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 24.40 and a beta of 1.24. Magnolia Oil & Gas has a 12 month low of $9.27 and a 12 month high of $14.13. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.54 and a quick ratio of 1.54.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.04). The firm had revenue of $244.80 million for the quarter, compared to the consensus estimate of $247.17 million. Magnolia Oil & Gas had a return on equity of 2.81% and a net margin of 7.80%. Equities research analysts expect that Magnolia Oil & Gas will post 0.33 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the stock. Aperio Group LLC bought a new position in shares of Magnolia Oil & Gas during the second quarter worth approximately $25,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Magnolia Oil & Gas in the second quarter valued at approximately $71,000. Bank of Montreal Can bought a new position in Magnolia Oil & Gas in the second quarter valued at approximately $98,000. First Mercantile Trust Co. increased its stake in Magnolia Oil & Gas by 28.2% in the third quarter. First Mercantile Trust Co. now owns 10,740 shares of the company’s stock valued at $119,000 after acquiring an additional 2,360 shares during the last quarter. Finally, Bingham Osborn & Scarborough LLC bought a new position in Magnolia Oil & Gas in the third quarter valued at approximately $126,000. Institutional investors and hedge funds own 68.57% of the company’s stock.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation engages in the business of acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. The company has oil and natural gas properties located primarily in Karnes County and the Giddings Field in South Texas primarily comprising the Eagle Ford Shale and the Austin Chalk formation.

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Analyst Recommendations for Magnolia Oil & Gas (NYSE:MGY)

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