Magnolia Oil & Gas (NYSE:MGY) Upgraded at Wells Fargo & Company

Magnolia Oil & Gas (NYSE:MGY) was upgraded by stock analysts at Wells Fargo & Company to a “hold” rating in a report issued on Wednesday, Zacks reports.

Several other equities research analysts have also issued reports on MGY. Citigroup reduced their price target on Magnolia Oil & Gas from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Tuesday, August 11th. Zacks Research downgraded Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Seaport Research Partners started coverage on shares of Magnolia Oil & Gas in a research report on Thursday. They set a “neutral” rating on the stock. UBS Group reduced their target price on shares of Magnolia Oil & Gas from $38.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, July 10th. Finally, Weiss Ratings raised shares of Magnolia Oil & Gas from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $31.62.

Magnolia Oil & Gas Trading Down 0.9%

NYSE MGY opened at $27.42 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.18. Magnolia Oil & Gas has a 1-year low of $21.07 and a 1-year high of $32.76. The firm’s fifty day simple moving average is $26.01 and its 200-day simple moving average is $27.82. The company has a market capitalization of $6.50 billion, a PE ratio of 12.03 and a beta of 0.70.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. Magnolia Oil & Gas had a return on equity of 21.04% and a net margin of 28.77%.The firm had revenue of $478.81 million during the quarter, compared to analysts’ expectations of $458.10 million. During the same quarter last year, the firm earned $0.41 earnings per share. The business’s revenue for the quarter was up 50.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Magnolia Oil & Gas will post 2.87 earnings per share for the current fiscal year.

Insider Activity

In related news, Director David M. Khani acquired 8,000 shares of the stock in a transaction dated Friday, August 7th. The shares were acquired at an average price of $25.00 per share, with a total value of $200,000.00. Following the acquisition, the director owned 30,622 shares in the company, valued at approximately $765,550. The trade was a 35.36% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Planning Project LLC bought a new position in shares of Magnolia Oil & Gas in the second quarter valued at approximately $1,434,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Magnolia Oil & Gas during the 2nd quarter worth $299,000. California State Teachers Retirement System grew its stake in Magnolia Oil & Gas by 2,478.7% in the 2nd quarter. California State Teachers Retirement System now owns 5,453,144 shares of the company’s stock valued at $139,491,000 after buying an additional 5,241,676 shares during the last quarter. AXQ Capital LP acquired a new position in Magnolia Oil & Gas in the 2nd quarter valued at $584,000. Finally, iSAM Funds UK Ltd acquired a new position in Magnolia Oil & Gas in the 2nd quarter valued at $238,000. 94.73% of the stock is currently 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).