Magnolia Oil & Gas (NYSE:MGY) Upgraded at BMO Capital Markets

Magnolia Oil & Gas (NYSE:MGY) was upgraded by stock analysts at BMO Capital Markets to a “strong-buy” rating in a report issued on Friday,Zacks.com reports.

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 report on Wednesday, October 8th. Mizuho set a $29.00 price target on shares of Magnolia Oil & Gas in a research note on Friday, December 12th. UBS Group restated a “buy” rating and set a $29.00 price objective on shares of Magnolia Oil & Gas in a research report on Friday. KeyCorp set a $29.00 target price on shares of Magnolia Oil & Gas and gave the company an “overweight” rating in a report on Wednesday, October 15th. Finally, Piper Sandler dropped their target price on shares of Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 18th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Magnolia Oil & Gas presently has an average rating of “Hold” and an average price target of $26.54.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $22.26 on Friday. The company has a market cap of $4.20 billion, a P/E ratio of 12.44, a PEG ratio of 3.28 and a beta of 0.92. The firm has a fifty day moving average price of $22.40 and a 200 day moving average price of $23.22. The company has a current ratio of 1.47, a quick 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 posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.41. The company had revenue of $324.94 million for the quarter, compared to analysts’ expectations of $322.52 million. Magnolia Oil & Gas had a return on equity of 18.10% and a net margin of 25.90%.Magnolia Oil & Gas’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.52 earnings per share. Sell-side analysts predict that Magnolia Oil & Gas will post 2.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Magnolia Oil & Gas

A number of institutional investors have recently modified their holdings of MGY. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Magnolia Oil & Gas by 236.2% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company’s stock valued at $27,000 after purchasing an additional 836 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Magnolia Oil & Gas in the second quarter valued at $30,000. Mather Group LLC. purchased a new stake in shares of Magnolia Oil & Gas in the third quarter valued at about $31,000. EverSource Wealth Advisors LLC raised its holdings in shares of Magnolia Oil & Gas by 165.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after buying an additional 864 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Magnolia Oil & Gas by 90.5% during the second quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company’s stock worth $50,000 after buying an additional 1,051 shares during the period. 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).