KeyCorp Upgrades Magnolia Oil & Gas (NYSE:MGY) to Overweight

Key Points

• Magnolia Oil & Gas has been upgraded from a "hold" to a "strong-buy" rating by KeyCorp, with future earnings estimates suggesting growth through 2027.
• Despite the upgrade, other research firms have mixed opinions on the stock, with Mizuho setting a neutral rating and Citigroup recommending a "sell."
• Magnolia Oil & Gas reported earnings of $0.43 per share for the last quarter, surpassing estimates and indicating a net margin of 27.57% despite a revenue decline from the previous year.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) was upgraded by KeyCorp from a "sector weight" rating to an "overweight" rating in a research report issued on Tuesday, Marketbeat.com reports. The brokerage currently has a $29.00 target price on the stock. KeyCorp's price objective would indicate a potential upside of 24.78% from the company's previous close. KeyCorp also issued estimates for Magnolia Oil & Gas' Q3 2025 earnings at $0.41 EPS, Q4 2025 earnings at $0.42 EPS, FY2025 earnings at $1.80 EPS, Q1 2026 earnings at $0.48 EPS, Q2 2026 earnings at $0.45 EPS, Q3 2026 earnings at $0.46 EPS, Q4 2026 earnings at $0.52 EPS, FY2026 earnings at $1.92 EPS, Q1 2027 earnings at $0.52 EPS, Q2 2027 earnings at $0.51 EPS, Q3 2027 earnings at $0.52 EPS and FY2027 earnings at $2.10 EPS.

A number of other brokerages have also commented on MGY. Weiss Ratings restated a "hold (c)" rating on shares of Magnolia Oil & Gas in a research report on Wednesday, October 8th. Mizuho cut their target price on shares of Magnolia Oil & Gas from $26.00 to $25.00 and set a "neutral" rating for the company in a research report on Monday, September 15th. Wells Fargo & Company decreased their target price on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating for the company in a research note on Monday, June 16th. Citigroup reaffirmed a "sell" rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. Finally, William Blair initiated coverage on Magnolia Oil & Gas in a research report on Monday, August 25th. They set an "outperform" rating for the company. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Magnolia Oil & Gas presently has an average rating of "Hold" and an average price target of $26.33.

Magnolia Oil & Gas Stock Up 0.7%

MGY stock opened at $23.24 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $4.43 billion, a P/E ratio of 12.17, a P/E/G ratio of 3.05 and a beta of 1.24. Magnolia Oil & Gas has a 52-week low of $19.09 and a 52-week high of $29.02. The company's 50 day simple moving average is $23.97 and its 200-day simple moving average is $23.04.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. The firm had revenue of $318.98 million during the quarter, compared to analyst estimates of $311.58 million. During the same quarter last year, the business posted $0.51 EPS. The company's revenue was down 5.3% on a year-over-year basis. As a group, equities research analysts anticipate that Magnolia Oil & Gas will post 2.1 EPS for the current year.

Institutional Trading of Magnolia Oil & Gas

Large investors have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of 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 valued at $27,000 after acquiring an additional 836 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Magnolia Oil & Gas in the second quarter valued at approximately $30,000. EverSource Wealth Advisors LLC lifted its stake in shares of Magnolia Oil & Gas by 165.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company's stock worth $31,000 after buying an additional 864 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Magnolia Oil & Gas by 90.5% in the second quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company's stock worth $50,000 after buying an additional 1,051 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in shares of Magnolia Oil & Gas by 160.0% during the 2nd quarter. Osaic Holdings Inc. now owns 4,363 shares of the company's stock worth $100,000 after buying an additional 2,685 shares during the period. Institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.