Magnolia Oil & Gas Corp (MGY) Receives Average Recommendation of “Buy” from Brokerages

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Shares of Magnolia Oil & Gas Corp (NYSE:MGY) have earned a consensus rating of “Buy” from the ten analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $16.50.

MGY has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Magnolia Oil & Gas from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Wednesday, October 17th. Mitsubishi UFJ Financial Group reissued an “overweight” rating on shares of Magnolia Oil & Gas in a research report on Thursday, October 25th. Citigroup initiated coverage on shares of Magnolia Oil & Gas in a research report on Friday, November 30th. They issued a “neutral” rating and a $13.00 price objective on the stock. ValuEngine raised shares of Magnolia Oil & Gas from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, Johnson Rice initiated coverage on shares of Magnolia Oil & Gas in a research report on Monday, January 7th. They issued a “buy” rating and a $17.00 price objective on the stock.

Shares of NYSE:MGY traded down $0.09 during trading hours on Friday, reaching $12.30. The stock had a trading volume of 3,200,727 shares, compared to its average volume of 1,008,583. Magnolia Oil & Gas has a 1 year low of $9.69 and a 1 year 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 acquired 20,000 shares of the company’s stock in a transaction on Friday, December 14th. The shares were bought at an average cost of $11.17 per share, with a total value of $223,400.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Credit Suisse AG purchased a new position in shares of Magnolia Oil & Gas in the 3rd quarter valued at $156,000. Fox Run Management L.L.C. purchased a new position in shares of Magnolia Oil & Gas in the 3rd quarter valued at $164,000. Emerald Advisers Inc. PA purchased a new position in shares of Magnolia Oil & Gas in the 3rd quarter valued at $232,000. Acadian Asset Management LLC purchased a new position in shares of Magnolia Oil & Gas in the 3rd quarter valued at $310,000. Finally, Key Group Holdings Cayman LTD. purchased a new position in shares of Magnolia Oil & Gas in the 3rd quarter valued at $450,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

About Magnolia Oil & Gas

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

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