Magnolia Oil & Gas (NYSE:MGY) Stock Dropped to “Hold” by Zacks Research

Magnolia Oil & Gas (NYSE:MGY) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks reports. Zacks Research also issued estimates for Magnolia Oil & Gas’ Q3 2026 earnings at $0.38 EPS.

Several other research firms have also recently commented on MGY. UBS Group reaffirmed a “buy” rating on shares of Magnolia Oil & Gas in a report on Friday, October 9th. Williams Trading set a $32.00 price objective on Magnolia Oil & Gas in a research note on Wednesday, September 23rd. Truist Financial upped their target price on Magnolia Oil & Gas from $34.00 to $35.00 and gave the company a “buy” rating in a report on Friday, October 2nd. Wells Fargo & Company dropped their target price on Magnolia Oil & Gas from $36.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Siebert Williams Shank raised Magnolia Oil & Gas from a “hold” rating to a “buy” rating and raised their target price for the stock from $30.00 to $32.00 in a research note on Wednesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.47.

Magnolia Oil & Gas Stock Down 1.0%

Shares of NYSE MGY opened at $24.86 on Tuesday. The stock has a market cap of $5.89 billion, a PE ratio of 10.91 and a beta of 0.80. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.18. Magnolia Oil & Gas has a 12-month low of $21.07 and a 12-month high of $32.76. The company has a 50-day moving average of $25.86 and a 200 day moving average of $27.10.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. The business had revenue of $478.81 million for the quarter, compared to analyst estimates of $458.10 million. Magnolia Oil & Gas had a net margin of 28.77% and a return on equity of 21.04%. The business’s revenue was up 50.1% on a year-over-year basis. During the same period last year, the company posted $0.41 EPS. As a group, sell-side analysts predict that Magnolia Oil & Gas will post 2.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director David Khani purchased 8,000 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was acquired at an average price of $25.00 per share, with a total value of $200,000.00. Following the purchase, the director directly owned 30,622 shares in the company, valued at approximately $765,550. This represents a 35.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.92% of the stock is owned by insiders.

Institutional Trading of Magnolia Oil & Gas

Several institutional investors have recently made changes to their positions in MGY. Dimensional Fund Advisors LP boosted its position in shares of Magnolia Oil & Gas by 5.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,028,781 shares of the company’s stock worth $221,910,000 after purchasing an additional 394,419 shares during the period. Janus Henderson Group PLC increased its holdings in Magnolia Oil & Gas by 2.8% in the 1st quarter. Janus Henderson Group PLC now owns 6,279,636 shares of the company’s stock valued at $198,248,000 after purchasing an additional 170,174 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Magnolia Oil & Gas by 790.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,263,808 shares of the company’s stock valued at $197,748,000 after purchasing an additional 5,560,619 shares during the period. Bank of America Corp DE raised its position in Magnolia Oil & Gas by 20.5% in the first quarter. Bank of America Corp DE now owns 3,877,361 shares of the company’s stock valued at $122,408,000 after purchasing an additional 659,012 shares during the period. Finally, Stephens Investment Management Group LLC raised its position in Magnolia Oil & Gas by 0.8% in the first quarter. Stephens Investment Management Group LLC now owns 2,172,120 shares of the company’s stock valued at $68,574,000 after purchasing an additional 17,541 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation is an independent oil and natural gas exploration and production company. The company focuses on the acquisition, development, exploration and production of crude oil, natural gas and natural gas liquids.

Magnolia’s operations are concentrated in the Eagle Ford Shale and Austin Chalk formations in South Texas, including its Karnes and Giddings areas. Its production activities are supported by established infrastructure and involve the development of unconventional oil and gas resources.

The company was formed in 2017 through a business combination involving TPG Pace Energy Holdings Corp.