Magnolia Oil & Gas (NYSE:MGY) Downgraded to Hold Rating by Siebert Williams Shank

Key Points

• Siebert Williams Shank downgraded Magnolia Oil & Gas (NYSE:MGY) from a "buy" to a "hold" in a report released Friday.
• Analyst sentiment is mixed — eight analysts rate MGY a Buy and nine rate it a Hold, giving a consensus "Hold" rating with an average price target of $28.18.
• MGY trades near its 12‑month high ($29.51) with a $5.5B market cap and a PE of 17.16; it reported quarterly EPS of $0.37 (beat $0.36) while revenue fell 2.8% year‑over‑year and missed estimates.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) was downgraded by investment analysts at Siebert Williams Shank from a "buy" rating to a "hold" rating in a report released on Friday, MarketBeat Ratings reports.

Other research analysts have also issued reports about the stock. Benchmark reaffirmed a "hold" rating on shares of Magnolia Oil & Gas in a report on Wednesday, January 21st. KeyCorp increased their price target 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. Citigroup boosted their price objective on Magnolia Oil & Gas from $25.00 to $29.00 and gave the company a "neutral" rating in a research report on Wednesday, February 18th. BMO Capital Markets began coverage on Magnolia Oil & Gas in a research report on Friday, January 9th. They issued an "outperform" rating and a $27.00 target price on the stock. Finally, UBS Group boosted their price target on shares of Magnolia Oil & Gas from $29.00 to $35.00 and gave the company a "buy" rating in a report on Thursday. Eight analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $28.18.

Magnolia Oil & Gas Price Performance

Shares of MGY stock opened at $29.51 on Friday. Magnolia Oil & Gas has a twelve month low of $19.09 and a twelve month high of $29.51. The company has a market capitalization of $5.50 billion, a PE ratio of 17.16 and a beta of 0.89. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.20. The firm has a fifty day simple moving average of $24.89 and a 200-day simple moving average of $23.83.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its earnings results on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. Magnolia Oil & Gas had a return on equity of 16.67% and a net margin of 24.79%.The company had revenue of $317.63 million during the quarter, compared to the consensus estimate of $322.18 million. During the same period last year, the firm earned $0.44 earnings per share. The company's revenue was down 2.8% on a year-over-year basis. Equities research analysts anticipate that Magnolia Oil & Gas will post 2.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Magnolia Oil & Gas

Several institutional investors and hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Magnolia Oil & Gas by 236.2% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company's stock worth $27,000 after purchasing an additional 836 shares during the last quarter. Salomon & Ludwin LLC increased its stake in Magnolia Oil & Gas by 130.1% during the fourth quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company's stock valued at $29,000 after acquiring an additional 760 shares during the period. Mather Group LLC. acquired a new position in Magnolia Oil & Gas in the 3rd quarter valued at approximately $31,000. EverSource Wealth Advisors LLC lifted its position in shares of Magnolia Oil & Gas by 165.5% in 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. Finally, Torren Management LLC acquired a new stake in shares of Magnolia Oil & Gas during the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Company Profile

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).

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