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

Magnolia Oil & Gas (NYSE:MGY) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a report issued on Friday, November 8th, ValuEngine reports.

Several other equities research analysts also recently issued reports on MGY. Piper Jaffray Companies lowered their price objective on shares of Magnolia Oil & Gas from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. Barclays began coverage on shares of Magnolia Oil & Gas in a research report on Friday, August 30th. They set an “overweight” rating and a $13.00 price objective for the company. Citigroup increased their price objective on shares of Magnolia Oil & Gas from $11.50 to $12.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. R. F. Lafferty set a $20.00 price objective on shares of Magnolia Oil & Gas and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, TheStreet upgraded shares of Magnolia Oil & Gas from a “d” rating to a “b-” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Magnolia Oil & Gas currently has an average rating of “Buy” and an average target price of $15.50.

Shares of MGY stock traded up $0.26 during trading hours on Friday, hitting $11.30. 883,068 shares of the company were exchanged, compared to its average volume of 1,272,056. The business has a 50 day moving average of $10.96 and a two-hundred day moving average of $10.91. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.14. Magnolia Oil & Gas has a 52 week low of $9.27 and a 52 week high of $14.13. The company has a market capitalization of $2.93 billion, a PE ratio of 22.63 and a beta of 1.28.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.04). Magnolia Oil & Gas had a return on equity of 2.81% and a net margin of 7.80%. The company had revenue of $244.80 million for the quarter, compared to the consensus estimate of $247.17 million. On average, research analysts forecast that Magnolia Oil & Gas will post 0.35 EPS for the current year.

In related news, Director Michael G. Macdougall sold 49,326 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $10.91, for a total transaction of $538,146.66. Following the completion of the transaction, the director now owns 21,961 shares in the company, valued at $239,594.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael G. Macdougall sold 50,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $11.15, for a total transaction of $557,500.00. Following the completion of the sale, the director now owns 21,961 shares of the company’s stock, valued at approximately $244,865.15. The disclosure for this sale can be found here. Insiders have sold 346,826 shares of company stock valued at $3,934,347 in the last 90 days. 7.90% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in MGY. Aperio Group LLC acquired a new stake in Magnolia Oil & Gas in the second quarter valued at $25,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Magnolia Oil & Gas in the second quarter valued at $71,000. Bank of Montreal Can acquired a new stake in Magnolia Oil & Gas in the second quarter valued at $98,000. First Mercantile Trust Co. lifted its stake in Magnolia Oil & Gas by 28.2% in the third quarter. First Mercantile Trust Co. now owns 10,740 shares of the company’s stock valued at $119,000 after acquiring an additional 2,360 shares during the last quarter. Finally, Bingham Osborn & Scarborough LLC acquired a new stake in Magnolia Oil & Gas in the third quarter valued at $126,000. Hedge funds and other institutional investors own 68.56% of the company’s stock.

About Magnolia Oil & Gas

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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