Magnolia Oil & Gas (NYSE:MGY) Rating Lowered to “Neutral” at The Goldman Sachs Group

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

MGY has been the subject of a number of other research reports. Johnson Rice downgraded shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Piper Sandler upped their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday. Mizuho raised their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Finally, Truist Financial raised their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $27.58.

Magnolia Oil & Gas Stock Down 3.2 %

Shares of MGY opened at $23.71 on Friday. The firm has a 50 day simple moving average of $25.15 and a two-hundred day simple moving average of $25.48. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. Magnolia Oil & Gas has a one year low of $19.53 and a one year high of $29.02. The company 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.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The company had revenue of $333.14 million during the quarter, compared to analysts’ expectations of $331.45 million. Research analysts forecast that Magnolia Oil & Gas will post 1.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of large investors have recently bought and sold shares of MGY. First Horizon Advisors Inc. increased its position 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 buying an additional 396 shares in the last quarter. Albert D Mason Inc. lifted its holdings in shares of Magnolia Oil & Gas by 0.7% in the 4th quarter. Albert D Mason Inc. now owns 61,497 shares of the company’s stock worth $1,438,000 after purchasing an additional 411 shares in the last quarter. Jennison Associates LLC grew its position in Magnolia Oil & Gas by 2.2% in the 3rd quarter. Jennison Associates LLC now owns 23,836 shares of the company’s stock valued at $582,000 after purchasing an additional 506 shares during the period. Avior Wealth Management LLC increased its stake in Magnolia Oil & Gas by 30.0% during the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock valued at $51,000 after purchasing an additional 506 shares in the last quarter. Finally, Atria Investments Inc lifted its stake in shares of Magnolia Oil & Gas by 2.3% in the third quarter. Atria Investments Inc now owns 23,576 shares of the company’s stock valued at $576,000 after buying an additional 523 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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.