Piper Jaffray Companies initiated coverage on shares of Magnolia Oil & Gas (NYSE:MGY) in a research note issued to investors on Monday, Benzinga reports. The brokerage issued an overweight rating and a $14.00 price target on the stock. Piper Jaffray Companies also issued estimates for Magnolia Oil & Gas’ Q2 2019 earnings at $0.22 EPS, Q3 2019 earnings at $0.28 EPS, Q4 2019 earnings at $0.28 EPS, FY2019 earnings at $0.87 EPS, Q1 2020 earnings at $0.26 EPS, Q2 2020 earnings at $0.23 EPS, Q3 2020 earnings at $0.22 EPS, Q4 2020 earnings at $0.21 EPS and FY2020 earnings at $0.92 EPS.
MGY has been the subject of a number of other research reports. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Zacks Investment Research cut shares of W. R. Grace & Co from a buy rating to a hold rating in a research report on Wednesday, May 1st. Credit Suisse Group reissued a buy rating and set a $241.00 target price on shares of FedEx in a research report on Monday, April 1st. JPMorgan Chase & Co. set a €158.00 ($183.72) target price on shares of Aena SME and gave the company a neutral rating in a research report on Tuesday, April 9th. Finally, Wells Fargo & Co cut shares of Occidental Petroleum from an outperform rating to a market perform rating in a research report on Monday, May 20th. Two research analysts have rated the stock with a sell rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $16.08.
NYSE:MGY opened at $10.87 on Monday. Magnolia Oil & Gas has a 52 week low of $9.88 and a 52 week high of $15.23. The company’s 50 day moving average price is $11.29. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.10 and a quick ratio of 1.10.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc purchased a new position in shares of Magnolia Oil & Gas in the first quarter worth $25,000. Emerald Advisers LLC raised its holdings in shares of Magnolia Oil & Gas by 68.0% in the first quarter. Emerald Advisers LLC now owns 17,560 shares of the company’s stock worth $211,000 after buying an additional 7,109 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Magnolia Oil & Gas by 449.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,792 shares of the company’s stock worth $98,000 after acquiring an additional 7,192 shares during the period. Starr International Co. Inc. acquired a new stake in shares of Magnolia Oil & Gas in the first quarter worth $120,000. Finally, First Mercantile Trust Co. acquired a new stake in shares of Magnolia Oil & Gas in the first quarter worth $128,000. 67.23% of the stock is owned by institutional investors and hedge funds.
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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