Magnolia Oil & Gas’ (MGY) “Hold” Rating Reaffirmed at Benchmark

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

Other equities research analysts have also issued reports about the stock. Mizuho increased their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. Piper Sandler reiterated a “neutral” rating and set a $29.00 target price on shares of Magnolia Oil & Gas in a report on Friday. Truist Financial raised their price objective on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a “buy” rating in a report on Friday, February 16th. Wells Fargo & Company raised their price objective on shares of Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Finally, Bank of America began coverage on shares of Magnolia Oil & Gas in a report on Tuesday, February 27th. They issued a “buy” rating and a $25.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $27.63.

Magnolia Oil & Gas Trading Down 0.1 %

Shares of MGY stock traded down $0.03 during trading hours on Tuesday, hitting $25.69. The company had a trading volume of 268,475 shares, compared to its average volume of 3,221,097. The company’s fifty day moving average is $24.27 and its 200 day moving average is $22.42. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.88 and a quick ratio of 1.88. Magnolia Oil & Gas has a fifty-two week low of $18.72 and a fifty-two week high of $27.33. The stock has a market capitalization of $5.25 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 1.58 and a beta of 2.05.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.04). Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. The company had revenue of $322.63 million during the quarter, compared to analyst estimates of $324.95 million. Research analysts expect that Magnolia Oil & Gas will post 2.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MGY. Mather Group LLC. purchased a new position in Magnolia Oil & Gas during the 1st quarter worth $27,000. Private Wealth Management Group LLC purchased a new position in Magnolia Oil & Gas during the 4th quarter worth $33,000. VisionPoint Advisory Group LLC grew its position in Magnolia Oil & Gas by 112.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after purchasing an additional 813 shares during the last quarter. Quadrant Capital Group LLC grew its position in Magnolia Oil & Gas by 40.4% during the 4th quarter. Quadrant Capital Group LLC now owns 4,623 shares of the company’s stock worth $98,000 after purchasing an additional 1,331 shares during the last quarter. Finally, Arlington Trust Co LLC purchased a new position in Magnolia Oil & Gas during the 4th quarter worth $113,000. 94.73% of the stock is owned by hedge funds and other 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.