Magnolia Oil & Gas (NYSE:MGY) Rating Lowered to “Hold” at Zacks Research

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

Other equities research analysts have also issued reports about the stock. Weiss Ratings raised shares of Magnolia Oil & Gas from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. KeyCorp reiterated an “overweight” rating and set a $38.00 price objective on shares of Magnolia Oil & Gas in a research report on Wednesday, August 12th. Wells Fargo & Company lowered their target price on shares of Magnolia Oil & Gas from $36.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday. Susquehanna upped their target price on shares of Magnolia Oil & Gas from $36.00 to $37.00 and gave the stock a “positive” rating in a research report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. upgraded shares of Magnolia Oil & Gas from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $32.00 to $33.00 in a research report on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.47.

Magnolia Oil & Gas Price Performance

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

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, beating the consensus estimate of $0.93 by $0.06. The company had revenue of $478.81 million for the quarter, compared to the consensus estimate of $458.10 million. Magnolia Oil & Gas had a return on equity of 21.04% and a net margin of 28.77%. Magnolia Oil & Gas’s quarterly revenue was up 50.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share. Equities research analysts expect that Magnolia Oil & Gas will post 2.75 EPS for the current year.

Insider Buying and Selling at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director David Khani bought 8,000 shares of Magnolia Oil & Gas stock in a transaction on Friday, August 7th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $200,000.00. Following the completion of the purchase, the director directly owned 30,622 shares in the company, valued at approximately $765,550. This trade represents a 35.36% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Magnolia Oil & Gas

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

About Magnolia Oil & Gas

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.