Magnolia Oil & Gas Corp (NYSE:MGY) Sees Significant Growth in Short Interest

Magnolia Oil & Gas Corp (NYSE:MGY) saw a large growth in short interest in June. As of June 30th, there was short interest totalling 17,894,100 shares, a growth of 24.9% from the May 30th total of 14,324,000 shares. Based on an average daily trading volume, of 1,300,000 shares, the short-interest ratio is presently 13.8 days. Currently, 17.5% of the company’s stock are sold short.

Several research analysts recently issued reports on the company. Credit Suisse Group reaffirmed a “buy” rating and set a $241.00 target price on shares of FedEx in a research report on Monday, April 1st. Wells Fargo & Co lowered Occidental Petroleum from an “outperform” rating to a “market perform” rating in a research report on Monday, May 20th. Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday. JPMorgan Chase & Co. set a €158.00 ($183.72) target price on Aena SME and gave the company a “neutral” rating in a research report on Tuesday, April 9th. Finally, ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating and thirteen have assigned a buy rating to the company’s stock. Magnolia Oil & Gas currently has an average rating of “Buy” and an average target price of $16.08.

Magnolia Oil & Gas stock remained flat at $$10.87 during trading hours on Friday. The company’s stock had a trading volume of 1,651,209 shares, compared to its average volume of 1,837,878. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average price is $11.27. Magnolia Oil & Gas has a twelve month low of $9.88 and a twelve month high of $15.23.

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

A number of institutional investors have recently bought and sold shares of MGY. Versant Capital Management Inc purchased a new stake in Magnolia Oil & Gas during the 1st quarter valued at about $25,000. PNC Financial Services Group Inc. boosted 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 buying an additional 7,192 shares during the last quarter. Starr International Co. Inc. purchased a new stake in shares of Magnolia Oil & Gas in the first quarter worth about $120,000. First Mercantile Trust Co. purchased a new stake in shares of Magnolia Oil & Gas in the first quarter worth about $128,000. Finally, Bank of America Corp DE purchased a new stake in shares of Magnolia Oil & Gas in the fourth quarter worth about $149,000. Institutional investors and hedge funds own 67.23% of the company’s stock.

Magnolia Oil & Gas Company Profile

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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