Wells Fargo & Company Cuts Magnolia Oil & Gas (NYSE:MGY) Price Target to $21.00

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) had its target price lowered by investment analysts at Wells Fargo & Company from $22.00 to $21.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. Wells Fargo & Company's price objective suggests a potential downside of 12.77% from the company's previous close.

Other equities analysts also recently issued reports about the stock. Williams Trading set a $29.00 target price on shares of Magnolia Oil & Gas in a report on Wednesday, March 5th. Bank of America lifted their price objective on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Susquehanna reduced their price objective on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Citigroup lowered their target price on shares of Magnolia Oil & Gas from $22.00 to $19.00 and set a "sell" rating for the company in a research note on Tuesday, April 8th. 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $27.00.

Magnolia Oil & Gas Stock Down 0.6%

MGY stock traded down $0.14 during trading on Monday, hitting $24.08. 2,885,404 shares of the company's stock traded hands, compared to its average volume of 2,300,541. The firm has a market capitalization of $4.63 billion, a P/E ratio of 11.98, a PEG ratio of 3.22 and a beta of 1.29. Magnolia Oil & Gas has a 1 year low of $19.09 and a 1 year high of $29.02. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.20. The business has a fifty day simple moving average of $22.00 and a two-hundred day simple moving average of $23.36.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.02. The business had revenue of $350.30 million for the quarter, compared to the consensus estimate of $337.83 million. Magnolia Oil & Gas had a return on equity of 20.73% and a net margin of 28.50%. The business's revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business posted $0.46 EPS. Sell-side analysts anticipate that Magnolia Oil & Gas will post 2.1 EPS for the current year.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of large investors have recently made changes to their positions in MGY. Empowered Funds LLC raised its stake in Magnolia Oil & Gas by 4.5% in the 4th quarter. Empowered Funds LLC now owns 60,114 shares of the company's stock worth $1,405,000 after acquiring an additional 2,591 shares during the last quarter. New York State Teachers Retirement System raised its stake in shares of Magnolia Oil & Gas by 7.1% in the fourth quarter. New York State Teachers Retirement System now owns 69,120 shares of the company's stock worth $1,616,000 after purchasing an additional 4,583 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Magnolia Oil & Gas by 1.6% in the fourth quarter. Rhumbline Advisers now owns 539,434 shares of the company's stock worth $12,612,000 after purchasing an additional 8,308 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Magnolia Oil & Gas by 14.5% during the fourth quarter. Principal Financial Group Inc. now owns 2,308,825 shares of the company's stock worth $53,983,000 after purchasing an additional 292,865 shares during the period. Finally, Sanctuary Advisors LLC boosted its position in Magnolia Oil & Gas by 4.7% in the fourth quarter. Sanctuary Advisors LLC now owns 18,976 shares of the company's stock valued at $465,000 after buying an additional 853 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

About Magnolia Oil & Gas

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.