Magnolia Oil & Gas (NYSE:MGY) Stock Rating Reaffirmed by Benchmark

Magnolia Oil & Gas (NYSE:MGY)‘s stock had its “hold” rating reaffirmed by Benchmark in a research note issued on Tuesday, Benzinga reports.

Other equities research analysts have also recently issued research reports about the stock. Mizuho lowered their price target on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Susquehanna lowered their target price on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Siebert Williams Shank downgraded Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research note on Tuesday. Bank of America lifted their price objective on Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company downgraded Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $26.00 to $22.00 in a report on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.50.

Magnolia Oil & Gas Stock Performance

Shares of NYSE MGY traded down $1.06 during trading hours on Tuesday, reaching $25.68. The stock had a trading volume of 304,190 shares, compared to its average volume of 2,595,417. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28. The business’s fifty day moving average is $25.01 and its two-hundred day moving average is $25.42. Magnolia Oil & Gas has a twelve month low of $19.16 and a twelve month high of $27.63. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.35 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The firm had revenue of $336.73 million for the quarter, compared to analyst estimates of $340.72 million. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. As a group, research analysts expect that Magnolia Oil & Gas will post 1.99 EPS for the current year.

Insiders Place Their Bets

In other news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the completion of the sale, the director now owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Magnolia Oil & Gas

Several large investors have recently bought and sold shares of MGY. Massmutual Trust Co. FSB ADV grew its stake in shares of Magnolia Oil & Gas by 1,753.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock worth $26,000 after purchasing an additional 982 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in Magnolia Oil & Gas during the 2nd quarter valued at approximately $26,000. Mather Group LLC. acquired a new position in shares of Magnolia Oil & Gas in the 1st quarter worth approximately $27,000. GAMMA Investing LLC lifted its holdings in Magnolia Oil & Gas by 184.4% in the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $41,000 after buying an additional 1,042 shares during the period. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Magnolia Oil & Gas during the 1st quarter valued at about $50,000. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.