Magnolia Oil & Gas’ (MGY) “Hold” Rating Reaffirmed at Benchmark

Benchmark reiterated their hold rating on shares of Magnolia Oil & Gas (NYSE:MGY) in a report published on Tuesday, Benzinga reports.

MGY has been the topic of a number of other reports. Citigroup boosted their target price on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a sell rating in a report on Monday, April 15th. Truist Financial upped their price target on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a buy rating in a report on Friday, February 16th. The Goldman Sachs Group upped their price target on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a buy rating in a report on Tuesday, March 26th. Mizuho upped their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a neutral rating in a report on Thursday, March 14th. Finally, Piper Sandler reiterated a neutral rating and set a $29.00 price target on shares of Magnolia Oil & Gas in a report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Magnolia Oil & Gas currently has a consensus rating of Hold and a consensus price target of $27.63.

Magnolia Oil & Gas Stock Performance

Shares of NYSE MGY opened at $26.29 on Tuesday. The firm’s fifty day moving average is $24.60 and its two-hundred day moving average is $22.50. Magnolia Oil & Gas has a 52-week low of $18.72 and a 52-week high of $27.33. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market cap of $5.37 billion, a P/E ratio of 12.82, a P/E/G ratio of 1.59 and a beta of 2.05.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. The business had revenue of $322.63 million during the quarter, compared to the consensus estimate of $324.95 million. As a group, analysts anticipate that Magnolia Oil & Gas will post 2.09 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. Magnolia Oil & Gas’s payout ratio is 25.37%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Mather Group LLC. bought a new position in shares of Magnolia Oil & Gas during the 1st quarter worth approximately $27,000. Private Wealth Management Group LLC bought a new position in shares of Magnolia Oil & Gas during the 4th quarter worth approximately $33,000. VisionPoint Advisory Group LLC raised its stake in shares of Magnolia Oil & Gas by 112.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after acquiring an additional 813 shares in the last quarter. Lindbrook Capital LLC raised its stake in shares of Magnolia Oil & Gas by 61.5% during the 1st quarter. Lindbrook Capital LLC now owns 1,647 shares of the company’s stock worth $43,000 after acquiring an additional 627 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Magnolia Oil & Gas by 40.4% during the 4th quarter. Quadrant Capital Group LLC now owns 4,623 shares of the company’s stock worth $98,000 after acquiring an additional 1,331 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.