Johnson Rice Downgrades Magnolia Oil & Gas (NYSE:MGY) to Accumulate

Johnson Rice cut shares of Magnolia Oil & Gas (NYSE:MGY) from a buy rating to an accumulate rating in a research note issued to investors on Tuesday, Briefing.com Automated Import reports.

A number of other research firms also recently weighed in on MGY. Piper Jaffray Companies cut their target price on Magnolia Oil & Gas from $14.00 to $13.00 and set an overweight rating for the company in a research report on Monday, September 30th. Zacks Investment Research upgraded Magnolia Oil & Gas from a sell rating to a hold rating in a research report on Thursday, October 17th. R. F. Lafferty set a $20.00 price target on Magnolia Oil & Gas and gave the company a buy rating in a research report on Wednesday, August 7th. KeyCorp assumed coverage on Magnolia Oil & Gas in a research note on Monday. They issued an overweight rating and a $14.00 price objective on the stock. Finally, Barclays assumed coverage on Magnolia Oil & Gas in a report on Friday, August 30th. They issued an overweight rating and a $13.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $15.38.

Shares of NYSE:MGY traded up $0.26 during trading on Tuesday, reaching $11.50. The company had a trading volume of 1,196,200 shares, compared to its average volume of 1,289,984. The firm’s fifty day moving average is $10.70 and its 200 day moving average is $11.01. The firm has a market capitalization of $3.03 billion, a PE ratio of 24.40 and a beta of 1.24. Magnolia Oil & Gas has a twelve month low of $9.27 and a twelve month high of $14.13. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.54 and a current ratio of 1.54.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.04). Magnolia Oil & Gas had a net margin of 7.80% and a return on equity of 2.81%. The company had revenue of $244.80 million during the quarter, compared to the consensus estimate of $247.17 million. Equities analysts predict that Magnolia Oil & Gas will post 0.33 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of MGY. Vanguard Group Inc. grew its holdings in shares of Magnolia Oil & Gas by 5.1% in the 2nd quarter. Vanguard Group Inc. now owns 9,334,628 shares of the company’s stock worth $108,095,000 after acquiring an additional 450,085 shares during the last quarter. BlackRock Inc. boosted its position in shares of Magnolia Oil & Gas by 301.3% in the 2nd quarter. BlackRock Inc. now owns 6,880,797 shares of the company’s stock valued at $79,679,000 after purchasing an additional 5,166,376 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Magnolia Oil & Gas by 9.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,303,603 shares of the company’s stock worth $72,996,000 after buying an additional 566,663 shares during the period. Silvercrest Asset Management Group LLC raised its holdings in Magnolia Oil & Gas by 27.5% during the 2nd quarter. Silvercrest Asset Management Group LLC now owns 4,851,525 shares of the company’s stock worth $56,180,000 after buying an additional 1,045,414 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Magnolia Oil & Gas by 1.2% during the 2nd quarter. Victory Capital Management Inc. now owns 4,200,625 shares of the company’s stock worth $48,643,000 after buying an additional 49,899 shares during the period. Hedge funds and other institutional investors own 68.57% of the company’s stock.

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.

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Analyst Recommendations for Magnolia Oil & Gas (NYSE:MGY)

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