Weiss Ratings Reaffirms Hold (C) Rating for Magnolia Oil & Gas (NYSE:MGY)

Magnolia Oil & Gas (NYSE:MGY)‘s stock had its “hold (c)” rating reissued by investment analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other brokerages also recently weighed in on MGY. Mizuho decreased their price objective on shares of Magnolia Oil & Gas from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Monday, September 15th. Piper Sandler upped their price objective on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Citigroup reiterated a “sell” rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. William Blair began coverage on shares of Magnolia Oil & Gas in a research report on Monday, August 25th. They issued an “outperform” rating for the company. Finally, Wells Fargo & Company decreased their price objective on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an “underweight” rating for the company in a research report on Monday, June 16th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.42.

Magnolia Oil & Gas Trading Up 0.9%

NYSE MGY opened at $24.12 on Wednesday. The company has a market capitalization of $4.60 billion, a PE ratio of 12.63, a P/E/G ratio of 3.14 and a beta of 1.24. The company has a fifty day moving average of $24.03 and a 200 day moving average of $23.12. Magnolia Oil & Gas has a 1 year low of $19.09 and a 1 year high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.44 and a quick ratio of 1.44.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The company had revenue of $318.98 million during the quarter, compared to the consensus estimate of $311.58 million. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 earnings per share. Research analysts forecast that Magnolia Oil & Gas will post 2.1 earnings per share for the current year.

Institutional Trading of Magnolia Oil & Gas

A number of institutional investors and hedge funds have recently modified their holdings of the stock. State of Wyoming increased its stake in shares of Magnolia Oil & Gas by 8.2% during the first quarter. State of Wyoming now owns 5,777 shares of the company’s stock worth $146,000 after purchasing an additional 440 shares in the last quarter. Vista Finance LLC increased its stake in shares of Magnolia Oil & Gas by 4.0% during the second quarter. Vista Finance LLC now owns 12,134 shares of the company’s stock worth $273,000 after purchasing an additional 471 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Magnolia Oil & Gas by 1.2% during the second quarter. ProShare Advisors LLC now owns 41,617 shares of the company’s stock worth $936,000 after purchasing an additional 495 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Magnolia Oil & Gas by 16.8% during the first quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company’s stock worth $111,000 after purchasing an additional 629 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Magnolia Oil & Gas by 13.3% during the third quarter. GAMMA Investing LLC now owns 5,677 shares of the company’s stock worth $136,000 after purchasing an additional 668 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

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.