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

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

Other research analysts also recently issued research reports about the stock. Piper Jaffray Companies dropped their target price on shares of Magnolia Oil & Gas from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. Barclays initiated 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 on the stock. 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 report on Wednesday, August 7th. Zacks Investment Research upgraded shares of Magnolia Oil & Gas from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Citigroup increased their price objective on shares of Magnolia Oil & Gas from $11.50 to $12.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $15.50.

Shares of NYSE MGY traded up $0.17 during midday trading on Friday, hitting $11.80. The stock had a trading volume of 1,039,010 shares, compared to its average volume of 1,302,917. The business’s 50 day moving average is $10.65 and its 200-day moving average is $11.11. The company has a market cap of $2.91 billion, a P/E ratio of 23.31 and a beta of 1.24. Magnolia Oil & Gas has a 52 week low of $9.27 and a 52 week high of $14.13. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.14.

A number of institutional investors have recently modified their holdings of MGY. Aperio Group LLC bought a new position in Magnolia Oil & Gas during the second quarter valued at approximately $25,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Magnolia Oil & Gas during the second quarter valued at approximately $71,000. Bank of Montreal Can purchased a new stake in Magnolia Oil & Gas during the second quarter valued at approximately $98,000. First Mercantile Trust Co. increased its holdings in Magnolia Oil & Gas by 28.2% during the third quarter. First Mercantile Trust Co. now owns 10,740 shares of the company’s stock valued at $119,000 after buying an additional 2,360 shares during the last quarter. Finally, Bingham Osborn & Scarborough LLC purchased a new stake in Magnolia Oil & Gas during the third quarter valued at approximately $126,000. Institutional investors own 67.07% 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.

See Also: How does equity income fit into an investing strategy?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Magnolia Oil & Gas (NYSE:MGY)

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.