Magnolia Oil & Gas (NYSE:MGY) Downgraded to Neutral Rating by The Goldman Sachs Group

The Goldman Sachs Group lowered shares of Magnolia Oil & Gas (NYSE:MGY) from a buy rating to a neutral rating in a report released on Friday morning, Marketbeat.com reports. They currently have $26.00 target price on the stock, down from their previous target price of $27.00.

Several other equities research analysts have also recently commented on the stock. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Bank of America reissued a “neutral” rating and issued a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Truist Financial upped their price target on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Johnson Rice cut shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday. Finally, Piper Sandler lifted their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $27.58.

Magnolia Oil & Gas Trading Down 3.2 %

NYSE MGY opened at $23.71 on Friday. Magnolia Oil & Gas has a one year low of $19.53 and a one year high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a market cap of $4.66 billion, a P/E ratio of 11.74, a P/E/G ratio of 3.12 and a beta of 2.00. The stock’s 50-day moving average is $25.15 and its 200-day moving average is $25.48.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. The firm had revenue of $333.14 million for the quarter, compared to the consensus estimate of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. Sell-side analysts anticipate that Magnolia Oil & Gas will post 1.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Magnolia Oil & Gas

Institutional investors and hedge funds have recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its stake in Magnolia Oil & Gas by 64.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock valued at $25,000 after purchasing an additional 396 shares during the period. Albert D Mason Inc. boosted its position in shares of Magnolia Oil & Gas by 0.7% in the fourth quarter. Albert D Mason Inc. now owns 61,497 shares of the company’s stock valued at $1,438,000 after acquiring an additional 411 shares during the period. Jennison Associates LLC grew its stake in shares of Magnolia Oil & Gas by 2.2% in the third quarter. Jennison Associates LLC now owns 23,836 shares of the company’s stock valued at $582,000 after acquiring an additional 506 shares in the last quarter. Avior Wealth Management LLC increased its position in Magnolia Oil & Gas by 30.0% during the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock worth $51,000 after acquiring an additional 506 shares during the period. Finally, Atria Investments Inc raised its stake in Magnolia Oil & Gas by 2.3% in the 3rd quarter. Atria Investments Inc now owns 23,576 shares of the company’s stock worth $576,000 after purchasing an additional 523 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

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.