Siebert Williams Shank Downgrades Magnolia Oil & Gas (NYSE:MGY) to Hold

Magnolia Oil & Gas (NYSE:MGY) was downgraded by stock analysts at Siebert Williams Shank from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Marketbeat reports. They presently have a $30.00 price objective on the stock. Siebert Williams Shank’s target price points to a potential upside of 13.87% from the company’s current price.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. cut their target price on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Susquehanna reduced their price objective on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Wells Fargo & Company cut Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $26.00 to $22.00 in a report on Tuesday, October 1st. Wolfe Research started coverage on Magnolia Oil & Gas in a report on Thursday, July 18th. They set an “outperform” rating and a $32.00 price target for the company. Finally, Bank of America raised their price objective on Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Magnolia Oil & Gas currently has an average rating of “Hold” and a consensus price target of $27.50.

Magnolia Oil & Gas Stock Performance

MGY stock opened at $26.35 on Tuesday. The company has a market cap of $5.34 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 1.36 and a beta of 1.99. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28. Magnolia Oil & Gas has a 1 year low of $19.16 and a 1 year high of $27.63. The stock’s fifty day moving average price is $25.09 and its 200-day moving average price is $25.42.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.05. The business had revenue of $336.73 million for the quarter, compared to analysts’ expectations of $340.72 million. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. On average, equities analysts forecast that Magnolia Oil & Gas will post 1.99 earnings per share for the current year.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $25.86, for a total value of $181,020,000.00. Following the transaction, the director now owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of hedge funds have recently made changes to their positions in MGY. Vanguard Group Inc. increased its stake in Magnolia Oil & Gas by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock worth $538,654,000 after acquiring an additional 2,956,314 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Magnolia Oil & Gas by 2,799.2% in the first quarter. Principal Financial Group Inc. now owns 1,881,039 shares of the company’s stock valued at $48,813,000 after purchasing an additional 1,816,158 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Magnolia Oil & Gas in the first quarter worth $30,161,000. American Century Companies Inc. raised its stake in Magnolia Oil & Gas by 9.9% during the second quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock valued at $237,927,000 after purchasing an additional 847,542 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Magnolia Oil & Gas by 16.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock valued at $114,554,000 after purchasing an additional 627,933 shares during the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.