ValuEngine Downgrades Magnolia Oil & Gas (NYSE:MGY) to Sell

Magnolia Oil & Gas (NYSE:MGY) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Friday, ValuEngine reports.

Several other research firms also recently weighed in on MGY. Piper Jaffray Companies lowered their price target on shares of Magnolia Oil & Gas from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. Citigroup boosted their price target on shares of Magnolia Oil & Gas from $11.50 to $12.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Barclays began coverage on shares of Magnolia Oil & Gas in a research note on Friday, August 30th. They issued an “overweight” rating and a $13.00 price target for the company. Zacks Investment Research raised shares of Magnolia Oil & Gas from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, R. F. Lafferty set a $20.00 price target on shares of Magnolia Oil & Gas and gave the stock a “buy” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. Magnolia Oil & Gas currently has a consensus rating of “Buy” and an average target price of $15.50.

Magnolia Oil & Gas stock traded up $0.17 during mid-day trading on Friday, hitting $11.80. The company’s stock had a trading volume of 1,039,010 shares, compared to its average volume of 1,302,917. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 23.31 and a beta of 1.24. The business has a 50 day moving average price of $10.65 and a 200-day moving average price of $11.11. Magnolia Oil & Gas has a 12 month low of $9.27 and a 12 month high of $14.13.

Several hedge funds have recently added to or reduced their stakes in MGY. Fox Run Management L.L.C. purchased a new position in shares of Magnolia Oil & Gas in the second quarter valued at about $206,000. Strs Ohio purchased a new position in shares of Magnolia Oil & Gas in the second quarter valued at about $312,000. Rothschild & Co. Asset Management US Inc. increased its position in shares of Magnolia Oil & Gas by 56.7% in the second quarter. Rothschild & Co. Asset Management US Inc. now owns 1,222,033 shares of the company’s stock valued at $14,151,000 after acquiring an additional 442,360 shares during the period. Virginia Retirement Systems ET AL purchased a new position in shares of Magnolia Oil & Gas in the second quarter valued at about $195,000. Finally, Systematic Financial Management LP increased its position in shares of Magnolia Oil & Gas by 1.5% in the second quarter. Systematic Financial Management LP now owns 1,084,172 shares of the company’s stock valued at $12,555,000 after acquiring an additional 15,679 shares during the period. Hedge funds and other institutional investors own 67.07% of the company’s stock.

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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