Magnolia Oil & Gas (NYSE:MGY) Lowered to Hold Rating by Zacks Research

Magnolia Oil & Gas (NYSE:MGY) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also commented on MGY. Susquehanna dropped their price target on Magnolia Oil & Gas from $30.00 to $28.00 and set a “positive” rating on the stock in a research report on Monday, January 26th. Piper Sandler raised their price target on Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research report on Wednesday, January 21st. Wells Fargo & Company dropped their target price on Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 13th. Finally, UBS Group lifted their target price on Magnolia Oil & Gas from $29.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, Magnolia Oil & Gas currently has an average rating of “Hold” and a consensus price target of $31.00.

Magnolia Oil & Gas Trading Down 1.5%

NYSE MGY opened at $29.72 on Tuesday. The firm has a market cap of $5.50 billion, a P/E ratio of 17.28 and a beta of 0.75. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.10 and a quick ratio of 1.10. The stock’s 50-day moving average is $29.78 and its 200-day moving average is $26.01. Magnolia Oil & Gas has a one year low of $21.07 and a one year high of $32.76.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The company had revenue of $358.51 million for the quarter, compared to analyst estimates of $349.89 million. Magnolia Oil & Gas had a return on equity of 16.28% and a net margin of 24.40%.Magnolia Oil & Gas’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.54 earnings per share. Sell-side analysts anticipate that Magnolia Oil & Gas will post 2.91 earnings per share for the current fiscal year.

Insider Transactions at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros sold 119,954 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $29.29, for a total value of $3,513,452.66. Following the completion of the transaction, the chief executive officer directly owned 883,592 shares in the company, valued at $25,880,409.68. This trade represents a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian Corales sold 33,000 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $29.12, for a total value of $960,960.00. Following the completion of the transaction, the chief financial officer owned 184,178 shares of the company’s stock, valued at approximately $5,363,263.36. This represents a 15.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 338,954 shares of company stock valued at $9,911,733. 0.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MGY. Salomon & Ludwin LLC boosted its stake in shares of Magnolia Oil & Gas by 130.1% during the 4th quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock worth $29,000 after acquiring an additional 760 shares during the period. Valued Wealth Advisors LLC bought a new position in shares of Magnolia Oil & Gas during the 1st quarter worth approximately $29,000. EverSource Wealth Advisors LLC boosted its stake in shares of Magnolia Oil & Gas by 165.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock worth $31,000 after acquiring an additional 864 shares during the period. Torren Management LLC bought a new position in shares of Magnolia Oil & Gas during the 4th quarter worth approximately $38,000. Finally, Parallel Advisors LLC boosted its stake in shares of Magnolia Oil & Gas by 79.8% during the 4th quarter. Parallel Advisors LLC now owns 1,769 shares of the company’s stock worth $39,000 after acquiring an additional 785 shares during the period. 94.73% of the stock is currently owned by institutional investors.

About Magnolia Oil & Gas

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).