Magnolia Oil & Gas (NYSE:MGY) Lowered to “Sell” at Zacks Investment Research

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Zacks Investment Research lowered shares of Magnolia Oil & Gas (NYSE:MGY) from a hold rating to a sell rating in a report issued on Wednesday, Zacks.com reports.

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. “

Other equities analysts also recently issued research reports about the company. Credit Suisse Group reiterated a buy rating and set a $241.00 price target on shares of FedEx in a research report on Monday, April 1st. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Piper Jaffray Companies set a $92.00 price target on Wintrust Financial and gave the stock a buy rating in a research report on Monday, July 8th. JPMorgan Chase & Co. set a €158.00 ($183.72) price target on Aena SME and gave the stock a neutral rating in a research report on Tuesday, April 9th. Finally, Wells Fargo & Co downgraded Occidental Petroleum from an outperform rating to a market perform rating in a research report on Monday, May 20th. Two analysts have rated the stock with a sell rating and thirteen have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $16.08.

Shares of MGY stock opened at $10.87 on Wednesday. The business’s 50 day simple moving average is $11.27. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.14. Magnolia Oil & Gas has a 12-month low of $9.88 and a 12-month high of $15.23.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.06). The business had revenue of $218.67 million during the quarter, compared to the consensus estimate of $221.11 million. On average, research analysts predict that Magnolia Oil & Gas will post 0.69 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new stake in shares of Magnolia Oil & Gas during the first quarter worth about $25,000. PNC Financial Services Group Inc. boosted its stake in 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 buying an additional 7,192 shares in the last quarter. Starr International Co. Inc. purchased a new stake in Magnolia Oil & Gas in the first quarter worth approximately $120,000. First Mercantile Trust Co. purchased a new stake in Magnolia Oil & Gas in the first quarter worth approximately $128,000. Finally, Albert D Mason Inc. purchased a new stake in Magnolia Oil & Gas in the first quarter worth approximately $152,000. Institutional investors and hedge funds own 67.23% 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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