Magnolia Oil & Gas (NYSE:MGY) Price Target Lowered to $27.00 at Mizuho

Magnolia Oil & Gas (NYSE:MGY) had its target price trimmed by Mizuho from $28.00 to $27.00 in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages have also commented on MGY. Piper Sandler cut their price target on Magnolia Oil & Gas from $29.00 to $26.00 and set a neutral rating for the company in a report on Thursday, August 15th. Truist Financial upped their price target on Magnolia Oil & Gas from $34.00 to $35.00 and gave the stock a buy rating in a report on Friday, August 2nd. JPMorgan Chase & Co. cut their target price on Magnolia Oil & Gas from $26.00 to $23.00 and set a neutral rating for the company in a research note on Thursday, September 12th. Susquehanna cut their target price on Magnolia Oil & Gas from $33.00 to $32.00 and set a positive rating for the company in a research note on Wednesday, September 4th. Finally, Capital One Financial initiated coverage on Magnolia Oil & Gas in a research note on Tuesday, June 11th. They issued an overweight rating and a $28.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $28.00.

Magnolia Oil & Gas Stock Up 1.6 %

Shares of Magnolia Oil & Gas stock opened at $24.21 on Monday. Magnolia Oil & Gas has a 12-month low of $19.16 and a 12-month high of $27.63. The stock has a market capitalization of $4.82 billion, a P/E ratio of 12.04, a PEG ratio of 1.12 and a beta of 2.00. The stock has a 50 day moving average price of $25.19 and a two-hundred day moving average price of $25.22. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. The company had revenue of $336.73 million during the quarter, compared to analyst estimates of $340.72 million. Equities analysts expect that Magnolia Oil & Gas will post 2.13 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.52 annualized dividend and a yield of 2.15%. Magnolia Oil & Gas’s dividend payout ratio is currently 25.87%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Lindbrook Capital LLC raised its stake in Magnolia Oil & Gas by 61.5% during the first 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. Bank of Montreal Can increased its stake in shares of Magnolia Oil & Gas by 1.8% in the second quarter. Bank of Montreal Can now owns 36,716 shares of the company’s stock valued at $931,000 after buying an additional 640 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Magnolia Oil & Gas by 5.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,156 shares of the company’s stock valued at $280,000 after buying an additional 730 shares in the last quarter. Commerce Bank increased its stake in shares of Magnolia Oil & Gas by 4.0% in the fourth quarter. Commerce Bank now owns 24,820 shares of the company’s stock valued at $528,000 after buying an additional 945 shares in the last quarter. Finally, Fulton Bank N.A. increased its stake in shares of Magnolia Oil & Gas by 10.3% in the second quarter. Fulton Bank N.A. now owns 10,411 shares of the company’s stock valued at $264,000 after buying an additional 968 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

About Magnolia Oil & Gas

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.