The Goldman Sachs Group Downgrades Magnolia Oil & Gas (NYSE:MGY) to Neutral

Magnolia Oil & Gas (NYSE:MGY) was downgraded by The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, Marketbeat.com reports. They currently have a $26.00 price objective on the stock, down from their previous price objective of $27.00. The Goldman Sachs Group’s price objective would suggest a potential upside of 6.14% from the stock’s previous close.

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

Magnolia Oil & Gas Stock Down 1.2 %

Shares of NYSE:MGY opened at $24.50 on Friday. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 3.12 and a beta of 2.00. The company has a 50 day moving average of $25.25 and a two-hundred day moving average of $25.50. Magnolia Oil & Gas has a 52-week low of $19.53 and a 52-week high of $29.02. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20.

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

Institutional Investors Weigh In On Magnolia Oil & Gas

Several large investors have recently made changes to their positions in the company. Soros Fund Management LLC bought a new position in Magnolia Oil & Gas in the 3rd quarter valued at about $18,120,000. Barclays PLC raised its holdings in Magnolia Oil & Gas by 62.5% during the third quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock worth $40,383,000 after purchasing an additional 636,049 shares in the last quarter. State Street Corp boosted its stake in Magnolia Oil & Gas by 4.2% during the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company’s stock valued at $261,300,000 after purchasing an additional 435,326 shares in the last quarter. Centiva Capital LP increased its position in shares of Magnolia Oil & Gas by 767.6% during the 3rd quarter. Centiva Capital LP now owns 487,148 shares of the company’s stock valued at $11,896,000 after purchasing an additional 430,996 shares during the period. Finally, Vest Financial LLC raised its stake in shares of Magnolia Oil & Gas by 39.0% in the 4th quarter. Vest Financial LLC now owns 1,521,004 shares of the company’s stock worth $35,561,000 after buying an additional 426,572 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

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.