Wall Street Zen Upgrades Magnolia Oil & Gas (NYSE:MGY) to Buy

Key Points

• Wall Street Zen upgraded Magnolia Oil & Gas to “buy” from “hold,” while broader analyst sentiment remains a “Moderate Buy” with an average price target of $31.50.
• Magnolia reported quarterly EPS of $0.99, exceeding estimates of $0.93, while revenue reached $478.81 million and increased 50.1% year over year.
• The stock opened at $25.07, implying potential upside to the analyst consensus target; institutional investors own a substantial 94.73% of outstanding shares.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

A number of other analysts also recently issued reports on MGY. Zacks Research downgraded Magnolia Oil & Gas from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 19th. Citigroup decreased their target price on shares of Magnolia Oil & Gas from $35.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, April 13th. Mizuho raised shares of Magnolia Oil & Gas to a "strong-buy" rating in a research note on Friday, July 31st. Wells Fargo & Company dropped their price target on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 13th. Finally, Roth Capital reduced their price target on shares of Magnolia Oil & Gas from $30.00 to $29.00 and set a "buy" rating on the stock in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $31.50.

Magnolia Oil & Gas Trading Up 1.3%

Shares of Magnolia Oil & Gas stock opened at $25.07 on Friday. The stock has a 50 day moving average of $26.19 and a 200 day moving average of $27.59. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.10 and a current ratio of 1.58. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of 10.99 and a beta of 0.72. Magnolia Oil & Gas has a fifty-two week low of $21.07 and a fifty-two week high of $32.76.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.06. Magnolia Oil & Gas had a return on equity of 21.04% and a net margin of 28.77%.The company had revenue of $478.81 million for the quarter, compared to the consensus estimate of $458.10 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. The company's revenue for the quarter was up 50.1% on a year-over-year basis. As a group, research analysts predict that Magnolia Oil & Gas will post 2.78 earnings per share for the current year.

Hedge Funds Weigh In On Magnolia Oil & Gas

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Salomon & Ludwin LLC grew its position in Magnolia Oil & Gas by 130.1% in the 4th quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company's stock valued at $29,000 after acquiring an additional 760 shares in the last quarter. Valued Wealth Advisors LLC acquired a new stake in shares of Magnolia Oil & Gas during the first quarter worth about $29,000. EverSource Wealth Advisors LLC lifted its position in shares of Magnolia Oil & Gas by 165.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company's stock worth $31,000 after purchasing an additional 864 shares in the last quarter. Torren Management LLC purchased a new position in shares of Magnolia Oil & Gas in the fourth quarter valued at approximately $38,000. Finally, Harbor Investment Advisory LLC purchased a new position in shares of Magnolia Oil & Gas in the second quarter valued at approximately $39,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

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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