Magnolia Oil & Gas (NYSE:MGY) Downgraded by TheStreet to “D”

TheStreet downgraded shares of Magnolia Oil & Gas (NYSE:MGY) from a c- rating to a d rating in a research note issued to investors on Thursday, TheStreetRatingsTable reports.

Several other research analysts also recently commented on MGY. Barclays began coverage on Magnolia Oil & Gas in a research note on Friday, August 30th. They issued an overweight rating and a $13.00 price objective on the stock. Piper Jaffray Companies began coverage on Magnolia Oil & Gas in a research note on Monday, July 8th. They issued an overweight rating and a $14.00 price objective on the stock. R. F. Lafferty set a $20.00 price objective on Magnolia Oil & Gas and gave the stock a buy rating in a research note on Wednesday, August 7th. Zacks Investment Research raised Magnolia Oil & Gas from a sell rating to a hold rating in a research note on Saturday, September 7th. Finally, ValuEngine downgraded Magnolia Oil & Gas from a hold rating to a sell rating in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $15.92.

MGY stock opened at $11.65 on Thursday. Magnolia Oil & Gas has a fifty-two week low of $9.27 and a fifty-two week high of $15.23. The business’s 50-day moving average is $10.39 and its two-hundred day moving average is $11.61. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.15 and a quick ratio of 1.15.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). Magnolia Oil & Gas had a net margin of 12.13% and a return on equity of 5.12%. The firm had revenue of $242.96 million during the quarter, compared to the consensus estimate of $239.51 million. Equities research analysts forecast that Magnolia Oil & Gas will post 0.46 earnings per share for the current fiscal year.

In other Magnolia Oil & Gas news, Chairman Stephen I. Chazen bought 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average price of $10.22 per share, with a total value of $255,500.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 7.90% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Systematic Financial Management LP raised its stake in Magnolia Oil & Gas by 1.5% during the 2nd quarter. Systematic Financial Management LP now owns 1,084,172 shares of the company’s stock valued at $12,555,000 after purchasing an additional 15,679 shares during the period. Columbia Pacific Advisors LLC raised its stake in Magnolia Oil & Gas by 11,248.8% during the 2nd quarter. Columbia Pacific Advisors LLC now owns 940,812 shares of the company’s stock valued at $1,783,000 after purchasing an additional 932,522 shares during the period. Trexquant Investment LP bought a new stake in Magnolia Oil & Gas during the 2nd quarter valued at approximately $423,000. Grantham Mayo Van Otterloo & Co. LLC bought a new stake in Magnolia Oil & Gas during the 2nd quarter valued at approximately $4,664,000. Finally, Rothschild & Co. Asset Management US Inc. purchased a new position in Magnolia Oil & Gas during the 1st quarter valued at approximately $9,356,000. 66.99% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation engages in the business of acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. The company has oil and natural gas properties located primarily in Karnes County and the Giddings Field in South Texas primarily comprising the Eagle Ford Shale and the Austin Chalk formation.

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Analyst Recommendations for Magnolia Oil & Gas (NYSE:MGY)

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