Zacks Investment Research Lowers Magnolia Oil & Gas (NYSE:MGY) to Sell

Zacks Investment Research lowered shares of Magnolia Oil & Gas (NYSE:MGY) from a hold rating to a sell rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Magnolia Oil & Gas Corporation is an oil producer. The company’s assets are located primarily in the Eagle Ford Shale and Austin Chalk formations in South Texas. Magnolia Oil & Gas Corporation, formerly known as TPG Pace Energy Holdings, is based in Houston, Texas. “

Other analysts have also issued reports about the company. JPMorgan Chase & Co. set a €158.00 ($183.72) target price on Aena SME and gave the stock a neutral rating in a report on Tuesday, April 9th. Credit Suisse Group reaffirmed a buy rating and set a $241.00 target price on shares of FedEx in a report on Monday, April 1st. Piper Jaffray Companies set a $92.00 target price on Wintrust Financial and gave the stock a buy rating in a report on Monday, July 8th. ValuEngine lowered Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Finally, Wells Fargo & Co lowered Occidental Petroleum from an outperform rating to a market perform rating in a report on Monday, May 20th. Two research analysts have rated the stock with a sell rating and thirteen have given a buy rating to the company. Magnolia Oil & Gas has an average rating of Buy and a consensus target price of $16.08.



Magnolia Oil & Gas stock opened at $10.87 on Wednesday. Magnolia Oil & Gas has a 52 week low of $9.88 and a 52 week high of $15.23. The business’s 50-day moving average is $11.27. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.14.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Monday, May 6th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.06). The company had revenue of $218.67 million during the quarter, compared to analysts’ expectations of $221.11 million. Research analysts anticipate that Magnolia Oil & Gas will post 0.69 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of MGY. Versant Capital Management Inc purchased a new position in shares of Magnolia Oil & Gas in the first quarter valued at approximately $25,000. PNC Financial Services Group Inc. lifted its position in shares of Magnolia Oil & Gas by 449.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,792 shares of the company’s stock valued at $98,000 after acquiring an additional 7,192 shares in the last quarter. Starr International Co. Inc. purchased a new position in shares of Magnolia Oil & Gas in the first quarter valued at approximately $120,000. First Mercantile Trust Co. purchased a new position in shares of Magnolia Oil & Gas in the first quarter valued at approximately $128,000. Finally, Bank of America Corp DE purchased a new position in shares of Magnolia Oil & Gas in the fourth quarter valued at approximately $149,000. Institutional investors own 67.23% of the company’s stock.

Magnolia Oil & Gas Company Profile

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.

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