Weiss Ratings Reaffirms Hold (C) Rating for Magnolia Oil & Gas (NYSE:MGY)

Key Points

• Weiss Ratings has reaffirmed a "hold (C)" rating for Magnolia Oil & Gas (NYSE: MGY), indicating a cautious stance on the stock's performance.
• Piper Sandler and Mizuho both adjusted price targets for Magnolia Oil & Gas, raising it to $25.00 while maintaining a "neutral" rating.
• The stock's 52-week range is between $19.09 and $29.02, with a current price around $24.12 and a consensus price target of $26.42 from analysts.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

MGY has been the topic of several other reports. Piper Sandler lifted their price objective on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Mizuho cut their price objective on shares of Magnolia Oil & Gas from $26.00 to $25.00 and set a "neutral" rating on the stock in a report on Monday, September 15th. William Blair started coverage on shares of Magnolia Oil & Gas in a report on Monday, August 25th. They issued an "outperform" rating on the stock. Wells Fargo & Company cut their price target on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a report on Monday, June 16th. Finally, UBS Group reaffirmed a "buy" rating and issued a $29.00 price target (up from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $26.42.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $24.12 on Wednesday. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 3.14 and a beta of 1.24. The company's 50 day moving average is $24.03 and its 200 day moving average is $23.12. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas has a 52-week low of $19.09 and a 52-week high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. The company had revenue of $318.98 million for the quarter, compared to analyst estimates of $311.58 million. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. Magnolia Oil & Gas's revenue was down 5.3% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share. On average, sell-side analysts anticipate that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several institutional investors and hedge funds have recently made changes to their positions in MGY. GAMMA Investing LLC lifted its stake in shares of Magnolia Oil & Gas by 2,696.6% during the first quarter. GAMMA Investing LLC now owns 63,706 shares of the company's stock worth $1,609,000 after buying an additional 61,428 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Magnolia Oil & Gas by 16.8% during the first quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock worth $111,000 after buying an additional 629 shares during the period. Albert D Mason Inc. lifted its stake in shares of Magnolia Oil & Gas by 1.7% during the first quarter. Albert D Mason Inc. now owns 62,547 shares of the company's stock worth $1,580,000 after buying an additional 1,050 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Magnolia Oil & Gas by 4.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,470 shares of the company's stock worth $391,000 after buying an additional 715 shares during the period. Finally, Vista Finance LLC lifted its stake in shares of Magnolia Oil & Gas by 7.0% during the first quarter. Vista Finance LLC now owns 11,663 shares of the company's stock worth $295,000 after buying an additional 759 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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.

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