According to Zacks, “Magnolia Oil & Gas Corporation is an oil producer. The company’s assets are located primarily in the Eagle Ford Shale and Austin Chalk formations in South Texas. Magnolia Oil & Gas Corporation, formerly known as TPG Pace Energy Holdings, is based in Houston, Texas. “
Several other equities analysts also recently weighed in on MGY. Piper Jaffray Companies started coverage on shares of Magnolia Oil & Gas in a research note on Monday, July 8th. They issued an overweight rating and a $14.00 target price for the company. R. F. Lafferty set a $20.00 price objective on shares of Magnolia Oil & Gas and gave the company a buy rating in a research note on Wednesday, August 7th. ValuEngine cut shares of Magnolia Oil & Gas from a hold rating to a sell rating in a report on Tuesday, July 2nd. TheStreet raised shares of Magnolia Oil & Gas from a d rating to a c- rating in a report on Tuesday, August 6th. Finally, Wells Fargo & Co initiated coverage on Magnolia Oil & Gas in a research report on Monday, May 20th. They set an outperform rating and a $16.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company. Magnolia Oil & Gas has a consensus rating of Buy and a consensus price target of $15.92.
MGY stock opened at $10.80 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.14. Magnolia Oil & Gas has a fifty-two week low of $9.27 and a fifty-two week high of $15.23. The stock has a fifty day moving average of $10.31 and a 200-day moving average of $11.66.
Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.02). The firm had revenue of $242.96 million during the quarter, compared to the consensus estimate of $239.51 million. Magnolia Oil & Gas had a net margin of 12.13% and a return on equity of 5.12%. Analysts anticipate that Magnolia Oil & Gas will post 0.46 earnings per share for the current fiscal year.
In other news, Chairman Stephen I. Chazen bought 25,000 shares of the stock in a transaction on Friday, August 9th. The shares were acquired at an average cost of $10.22 per share, for a total transaction of $255,500.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 7.90% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MGY. Hancock Whitney Corp bought a new stake in Magnolia Oil & Gas during the second quarter valued at $4,326,000. United Services Automobile Association increased its stake in Magnolia Oil & Gas by 25.8% in the 2nd quarter. United Services Automobile Association now owns 444,265 shares of the company’s stock worth $5,145,000 after acquiring an additional 91,060 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its stake in Magnolia Oil & Gas by 594.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 116,700 shares of the company’s stock worth $1,351,000 after acquiring an additional 99,900 shares during the last quarter. Waddell & Reed Financial Inc. raised its holdings in shares of Magnolia Oil & Gas by 1.2% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 2,873,225 shares of the company’s stock valued at $33,272,000 after acquiring an additional 33,066 shares in the last quarter. Finally, Yaupon Capital Management LP raised its holdings in shares of Magnolia Oil & Gas by 31.5% in the 2nd quarter. Yaupon Capital Management LP now owns 39,447 shares of the company’s stock valued at $457,000 after acquiring an additional 9,447 shares in the last quarter. Hedge funds and other institutional investors own 66.99% 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.
Further Reading: What is a stock split?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Magnolia Oil & Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magnolia Oil & Gas and related companies with MarketBeat.com's FREE daily email newsletter.