R. F. Lafferty began coverage on shares of Magnolia Oil & Gas (NYSE:MGY) in a report published on Thursday morning. The brokerage issued a buy rating and a $17.00 price target on the stock.
A number of other equities analysts have also recently weighed in on MGY. Zacks Investment Research raised Magnolia Oil & Gas from a hold rating to a buy rating and set a $16.00 price target for the company in a report on Wednesday, October 17th. Mitsubishi UFJ Financial Group reissued an overweight rating on shares of Magnolia Oil & Gas in a report on Thursday, October 25th. Citigroup started coverage on Magnolia Oil & Gas in a report on Friday, November 30th. They issued a neutral rating and a $13.00 price target for the company. ValuEngine raised Magnolia Oil & Gas from a sell rating to a hold rating in a report on Wednesday, January 2nd. Finally, Johnson Rice began coverage on Magnolia Oil & Gas in a research note on Monday, January 7th. They issued a buy rating and a $17.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $16.14.
Shares of NYSE MGY traded up $0.23 during trading on Thursday, reaching $12.64. The company had a trading volume of 1,432,800 shares, compared to its average volume of 1,080,962. Magnolia Oil & Gas has a twelve month low of $9.69 and a twelve month high of $15.23. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.19 and a quick ratio of 1.19.
In other news, EVP Timothy D. Yang purchased 20,000 shares of the stock in a transaction on Friday, December 14th. The stock was purchased at an average price of $11.17 per share, with a total value of $223,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Several large investors have recently added to or reduced their stakes in the stock. FMR LLC acquired a new stake in shares of Magnolia Oil & Gas during the 3rd quarter worth approximately $302,000,000. Vanguard Group Inc. bought a new stake in shares of Magnolia Oil & Gas during the 3rd quarter worth $113,312,000. Vanguard Group Inc purchased a new stake in shares of Magnolia Oil & Gas in the third quarter valued at $113,312,000. Capital World Investors purchased a new stake in shares of Magnolia Oil & Gas in the third quarter valued at $60,040,000. Finally, Alliancebernstein L.P. purchased a new stake in shares of Magnolia Oil & Gas in the third quarter valued at $20,035,000. Institutional investors and hedge funds own 47.21% of the company’s stock.
Magnolia Oil & Gas Company Profile
Magnolia Oil & Gas Corporation operates as an oil and gas exploration and production company. It has operations in South Texas in the core of the Eagle Ford. The company is headquartered in Houston, Texas.
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