Magnolia Oil & Gas (NYSE:MGY) Downgraded by ValuEngine to “Sell”

ValuEngine downgraded shares of Magnolia Oil & Gas (NYSE:MGY) from a hold rating to a sell rating in a research note released on Friday morning, ValuEngine reports.

Other equities research analysts have also issued reports about the stock. TheStreet raised shares of Magnolia Oil & Gas from a d rating to a b- rating in a report on Wednesday, October 30th. Zacks Investment Research raised shares of Magnolia Oil & Gas from a sell rating to a hold rating in a report on Thursday, October 17th. Citigroup raised their price target on shares of Magnolia Oil & Gas from $11.50 to $12.00 and gave the company a neutral rating in a report on Monday, September 23rd. R. F. Lafferty set a $20.00 price target on shares of Magnolia Oil & Gas and gave the company a buy rating in a report on Wednesday, August 7th. Finally, Piper Jaffray Companies decreased 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 report on Monday, September 30th. One equities research 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. The stock presently has a consensus rating of Buy and a consensus price target of $15.50.

MGY traded up $0.17 during trading hours on Friday, reaching $11.80. 1,039,010 shares of the stock traded hands, compared to its average volume of 1,302,917. The firm’s fifty day simple moving average is $10.65 and its two-hundred day simple moving average is $11.11. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 23.31 and a beta of 1.24. Magnolia Oil & Gas has a fifty-two week low of $9.27 and a fifty-two week high of $14.13. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.15 and a quick ratio of 1.15.

A number of hedge funds have recently made changes to their positions in MGY. BlackRock Inc. grew its holdings in Magnolia Oil & Gas by 301.3% during the 2nd quarter. BlackRock Inc. now owns 6,880,797 shares of the company’s stock worth $79,679,000 after acquiring an additional 5,166,376 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Magnolia Oil & Gas in the 3rd quarter worth about $20,537,000. Silvercrest Asset Management Group LLC lifted its position in shares of Magnolia Oil & Gas by 27.5% in the 2nd quarter. Silvercrest Asset Management Group LLC now owns 4,851,525 shares of the company’s stock worth $56,180,000 after buying an additional 1,045,414 shares during the last quarter. Columbia Pacific Advisors LLC lifted its position in shares of Magnolia Oil & Gas by 11,248.8% in the 2nd quarter. Columbia Pacific Advisors LLC now owns 940,812 shares of the company’s stock worth $1,783,000 after buying an additional 932,522 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Magnolia Oil & Gas by 9.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,303,603 shares of the company’s stock worth $72,996,000 after buying an additional 566,663 shares during the last quarter. 67.07% of the stock is owned by institutional investors.

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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