Magnolia Oil & Gas (NYSE:MGY) Raised to “Buy” at Wall Street Zen

Magnolia Oil & Gas (NYSE:MGY) was upgraded by 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 equities research analysts also recently weighed in on MGY. Mizuho upgraded Magnolia Oil & Gas to a “strong-buy” rating in a research report on Friday, July 31st. Truist Financial upgraded Magnolia Oil & Gas from a “hold” rating to a “buy” rating and upped their price objective for the stock from $32.00 to $33.00 in a report on Tuesday, July 28th. Susquehanna increased their price objective on Magnolia Oil & Gas from $35.00 to $36.00 and gave the company a “positive” rating in a research report on Tuesday, July 21st. Citigroup decreased their price objective on Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. Finally, Roth Capital decreased their price objective on Magnolia Oil & Gas from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. One 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.50.

Magnolia Oil & Gas Price Performance

MGY stock opened at $25.07 on Friday. The firm has a 50 day simple moving average of $26.19 and a two-hundred day simple moving average of $27.63. The stock has a market cap of $4.64 billion, a PE ratio of 10.99 and a beta of 0.72. Magnolia Oil & Gas has a one year low of $21.07 and a one year high of $32.76. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 1.58.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.06. Magnolia Oil & Gas had a net margin of 28.77% and a return on equity of 21.04%. The firm had revenue of $478.81 million for the quarter, compared to analysts’ expectations of $458.10 million. During the same quarter last year, the company posted $0.41 EPS. The business’s quarterly revenue was up 50.1% on a year-over-year basis. On average, analysts predict that Magnolia Oil & Gas will post 2.81 EPS for the current fiscal year.

Institutional Trading of Magnolia Oil & Gas

Hedge funds have recently added to or reduced their stakes in the business. Lido Advisors LLC lifted its stake in Magnolia Oil & Gas by 2.4% during the 4th quarter. Lido Advisors LLC now owns 16,197 shares of the company’s stock valued at $382,000 after acquiring an additional 387 shares during the period. Oak Family Advisors LLC grew its stake in shares of Magnolia Oil & Gas by 0.9% in the fourth quarter. Oak Family Advisors LLC now owns 47,620 shares of the company’s stock worth $1,042,000 after acquiring an additional 410 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Magnolia Oil & Gas by 10.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,624 shares of the company’s stock valued at $102,000 after purchasing an additional 422 shares during the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Magnolia Oil & Gas by 3.1% during the third quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company’s stock valued at $380,000 after purchasing an additional 482 shares during the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of Magnolia Oil & Gas by 1.6% during the fourth quarter. Stifel Financial Corp now owns 36,980 shares of the company’s stock valued at $809,000 after purchasing an additional 585 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

About Magnolia Oil & Gas

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).