Magnolia Oil & Gas (MGY) Now Covered by Analysts at JPMorgan Chase & Co.

Equities researchers at JPMorgan Chase & Co. began coverage on shares of Magnolia Oil & Gas (NYSE:MGY) in a research note issued on Tuesday, April 9th, MarketBeat.com reports. The firm set an “overweight” rating and a $16.00 price target on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 23.27% from the stock’s current price.

MGY has been the subject of a number of other research reports. Citigroup assumed coverage on shares of Magnolia Oil & Gas in a research report on Wednesday, January 9th. They set a “positive” rating and a $16.00 target price for the company. Oppenheimer assumed coverage on shares of Magnolia Oil & Gas in a research report on Saturday, February 2nd. They set a “buy” rating and a $15.00 target price for the company. Zacks Investment Research cut shares of Magnolia Oil & Gas from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 7th. Susquehanna Bancshares assumed coverage on shares of Magnolia Oil & Gas in a research report on Wednesday, January 9th. They set a “positive” rating and a $16.00 target price for the company. Finally, Credit Suisse Group assumed coverage on shares of Magnolia Oil & Gas in a research report on Monday, April 1st. They set an “outperform” rating and a $15.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $16.30.

Magnolia Oil & Gas stock traded up $0.36 during mid-day trading on Tuesday, reaching $12.98. The company had a trading volume of 821,116 shares, compared to its average volume of 1,062,261. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.48 and a quick ratio of 1.48. Magnolia Oil & Gas has a 52 week low of $9.88 and a 52 week high of $15.23.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Monday, February 25th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The firm had revenue of $255.06 million for the quarter, compared to the consensus estimate of $267.36 million. As a group, analysts expect that Magnolia Oil & Gas will post 0.82 EPS for the current fiscal year.

In related news, Chairman Stephen I. Chazen purchased 25,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were purchased at an average price of $12.31 per share, with a total value of $307,750.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC increased its holdings in Magnolia Oil & Gas by 1.8% during the fourth quarter. FMR LLC now owns 20,476,000 shares of the company’s stock worth $229,536,000 after buying an additional 356,100 shares during the last quarter. Vanguard Group Inc. acquired a new position in Magnolia Oil & Gas during the third quarter worth $113,312,000. Vanguard Group Inc acquired a new position in Magnolia Oil & Gas during the third quarter worth $113,312,000. Victory Capital Management Inc. increased its holdings in Magnolia Oil & Gas by 16.3% during the first quarter. Victory Capital Management Inc. now owns 4,150,726 shares of the company’s stock worth $49,809,000 after buying an additional 580,268 shares during the last quarter. Finally, Capital World Investors acquired a new position in Magnolia Oil & Gas during the third quarter worth $60,040,000. Institutional investors own 63.72% 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.

Recommended Story: What are different types of coverage ratios?

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.