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

Magnolia Oil & Gas (NYSE:MGY) was downgraded by investment analysts at Siebert Williams Shank from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports.

Other research analysts have also issued research reports about the company. Wells Fargo & Company set a $25.00 price target on Magnolia Oil & Gas in a research note on Monday, February 16th. Susquehanna dropped their target price on Magnolia Oil & Gas from $30.00 to $28.00 and set a “positive” rating for the company in a research note on Monday, January 26th. KeyCorp increased their target price on Magnolia Oil & Gas from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Roth Mkm reissued a “buy” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, February 10th. Finally, BMO Capital Markets started coverage on Magnolia Oil & Gas in a report on Friday, January 9th. They issued an “outperform” rating and a $27.00 price target for the company. Eight research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $28.18.

Magnolia Oil & Gas Stock Performance

Shares of NYSE MGY opened at $29.24 on Friday. The company has a 50-day simple moving average of $25.04 and a 200-day simple moving average of $23.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 1.54. The company has a market cap of $5.45 billion, a PE ratio of 17.00 and a beta of 0.89. Magnolia Oil & Gas has a 12 month low of $19.09 and a 12 month high of $29.69.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. The business had revenue of $317.63 million for the quarter, compared to the consensus estimate of $322.18 million. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 earnings per share. On average, equities analysts anticipate that Magnolia Oil & Gas will post 2.1 earnings per share for the current year.

Institutional Investors Weigh In On Magnolia Oil & Gas

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV acquired a new position in shares of Magnolia Oil & Gas in the 4th quarter valued at about $260,000. Caitlin John LLC purchased a new position in Magnolia Oil & Gas in the fourth quarter valued at approximately $329,000. Empowered Funds LLC raised its holdings in Magnolia Oil & Gas by 111.4% in the fourth quarter. Empowered Funds LLC now owns 146,186 shares of the company’s stock valued at $3,200,000 after buying an additional 77,025 shares during the period. XTX Topco Ltd lifted its position in Magnolia Oil & Gas by 599.0% during the fourth quarter. XTX Topco Ltd now owns 219,040 shares of the company’s stock valued at $4,795,000 after buying an additional 187,703 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its stake in Magnolia Oil & Gas by 116.4% during the fourth quarter. Voloridge Investment Management LLC now owns 969,487 shares of the company’s stock worth $21,222,000 after buying an additional 521,459 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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).