Magnolia Oil & Gas (NYSE:MGY) Price Target Raised to $31.00 at Susquehanna

Magnolia Oil & Gas (NYSE:MGY) had its price target upped by Susquehanna from $28.00 to $31.00 in a research note issued to investors on Monday, Benzinga reports. Susquehanna currently has a positive rating on the stock.

Other analysts have also issued research reports about the stock. Wells Fargo & Company lifted their price objective on shares of Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an equal weight rating in a research note on Thursday, April 18th. Truist Financial upped their target price on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a buy rating in a research note on Friday, February 16th. Bank of America initiated coverage on shares of Magnolia Oil & Gas in a report on Tuesday, February 27th. They issued a buy rating and a $25.00 price target on the stock. Piper Sandler reissued a neutral rating and issued a $29.00 price target on shares of Magnolia Oil & Gas in a report on Friday, April 19th. Finally, Mizuho upped their price objective 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Magnolia Oil & Gas presently has an average rating of Hold and an average price target of $27.63.

Magnolia Oil & Gas Price Performance

NYSE:MGY opened at $26.29 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.88 and a current ratio of 1.88. Magnolia Oil & Gas has a 52 week low of $18.72 and a 52 week high of $27.33. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 1.59 and a beta of 2.05. The firm’s 50-day simple moving average is $24.60 and its 200 day simple moving average is $22.50.

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

Magnolia Oil & Gas Increases Dividend

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

Institutional Investors Weigh In On Magnolia Oil & Gas

Large investors have recently bought and sold shares of the business. Mather Group LLC. bought a new stake in shares of Magnolia Oil & Gas during the 1st quarter valued at about $27,000. Private Wealth Management Group LLC bought a new stake in shares of Magnolia Oil & Gas during the 4th quarter valued at about $33,000. VisionPoint Advisory Group LLC grew 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 valued at $35,000 after purchasing an additional 813 shares during the period. Lindbrook Capital LLC grew 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 valued at $43,000 after purchasing an additional 627 shares during the period. Finally, Quadrant Capital Group LLC grew 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 valued at $98,000 after purchasing an additional 1,331 shares during the period. 94.73% of the stock is currently owned by institutional investors.

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.