Magnolia Oil & Gas (NYSE:MGY) Stock Rating Upgraded by Citigroup

Magnolia Oil & Gas (NYSE:MGY) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage presently has a $25.00 price target on the stock. Citigroup’s price target points to a potential upside of 8.04% from the company’s current price.

MGY has been the topic of several other research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Magnolia Oil & Gas in a research note on Wednesday, October 8th. KeyCorp set a $29.00 price objective on shares of Magnolia Oil & Gas and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Piper Sandler lowered their target price on shares of Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, November 18th. Mizuho set a $29.00 price target on shares of Magnolia Oil & Gas in a research report on Friday, December 12th. Finally, UBS Group reaffirmed a “buy” rating and set a $29.00 price objective on shares of Magnolia Oil & Gas in a research note on Friday. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Magnolia Oil & Gas currently has an average rating of “Hold” and an average price target of $26.42.

Magnolia Oil & Gas Stock Performance

Magnolia Oil & Gas stock opened at $23.14 on Wednesday. The stock has a 50-day simple moving average of $22.41 and a 200 day simple moving average of $23.21. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 12.86, a P/E/G ratio of 3.28 and a beta of 0.92. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas has a 12-month low of $19.09 and a 12-month high of $26.84.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.41 EPS for the quarter, meeting analysts’ consensus estimates of $0.41. The firm had revenue of $324.94 million for the quarter, compared to analyst estimates of $322.52 million. Magnolia Oil & Gas had a return on equity of 18.10% and a net margin of 25.90%.The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the company earned $0.52 EPS. On average, research analysts anticipate that Magnolia Oil & Gas will post 2.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. TD Asset Management Inc lifted its holdings in Magnolia Oil & Gas by 55.7% during the 3rd quarter. TD Asset Management Inc now owns 4,478,361 shares of the company’s stock valued at $106,898,000 after purchasing an additional 1,601,809 shares during the last quarter. Epoch Investment Partners Inc. raised its holdings in Magnolia Oil & Gas by 58.7% in the 3rd quarter. Epoch Investment Partners Inc. now owns 4,138,626 shares of the company’s stock valued at $98,789,000 after acquiring an additional 1,531,061 shares during the period. American Century Companies Inc. lifted its position in Magnolia Oil & Gas by 12.9% during the second quarter. American Century Companies Inc. now owns 11,861,231 shares of the company’s stock worth $266,641,000 after acquiring an additional 1,358,878 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Magnolia Oil & Gas by 192.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,401,279 shares of the company’s stock worth $33,449,000 after acquiring an additional 921,970 shares during the period. Finally, Boston Trust Walden Corp grew its position in shares of Magnolia Oil & Gas by 26.0% in the second quarter. Boston Trust Walden Corp now owns 4,003,770 shares of the company’s stock valued at $90,005,000 after purchasing an additional 825,162 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

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).