Piper Jaffray Companies assumed coverage on shares of Magnolia Oil & Gas (NYSE:MGY) in a report released on Monday, Benzinga reports. The firm issued an overweight rating and a $14.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Magnolia Oil & Gas’ Q2 2019 earnings at $0.22 EPS, Q3 2019 earnings at $0.28 EPS, Q4 2019 earnings at $0.28 EPS, FY2019 earnings at $0.87 EPS, Q1 2020 earnings at $0.26 EPS, Q2 2020 earnings at $0.23 EPS, Q3 2020 earnings at $0.22 EPS, Q4 2020 earnings at $0.21 EPS and FY2020 earnings at $0.92 EPS.
Other analysts also recently issued reports about the company. JPMorgan Chase & Co. set a €158.00 ($183.72) price target on Aena SME and gave the stock a neutral rating in a report on Tuesday, April 9th. Wells Fargo & Co downgraded Occidental Petroleum from an outperform rating to a market perform rating in a report on Monday, May 20th. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Zacks Investment Research downgraded W. R. Grace & Co from a buy rating to a hold rating in a report on Wednesday, May 1st. Finally, Credit Suisse Group reiterated a buy rating and set a $241.00 price target on shares of FedEx in a report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating and thirteen have assigned a buy rating to the company. Magnolia Oil & Gas has an average rating of Buy and a consensus target price of $16.08.
NYSE MGY traded down $0.42 on Monday, reaching $10.87. The company had a trading volume of 2,251,897 shares, compared to its average volume of 1,226,335. Magnolia Oil & Gas has a fifty-two week low of $9.88 and a fifty-two week high of $15.23. The business has a 50 day moving average price of $11.32. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.14.
Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.06). The business had revenue of $218.67 million during the quarter, compared to analysts’ expectations of $221.11 million. Research analysts expect that Magnolia Oil & Gas will post 0.7 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc bought a new position in shares of Magnolia Oil & Gas during the 1st quarter worth about $25,000. PNC Financial Services Group Inc. boosted its position in shares of Magnolia Oil & Gas by 449.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,792 shares of the company’s stock worth $98,000 after purchasing an additional 7,192 shares in the last quarter. Starr International Co. Inc. bought a new position in shares of Magnolia Oil & Gas during the 1st quarter worth about $120,000. First Mercantile Trust Co. bought a new position in shares of Magnolia Oil & Gas during the 1st quarter worth about $128,000. Finally, Albert D Mason Inc. bought a new position in shares of Magnolia Oil & Gas during the 1st quarter worth about $152,000. 67.23% of the stock is currently owned by institutional investors.
About Magnolia Oil & Gas
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.
Recommended Story: Special Dividends
Receive News & Ratings for Magnolia Oil & Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magnolia Oil & Gas and related companies with MarketBeat.com's FREE daily email newsletter.