Brokerages Set Magnolia Oil & Gas Co. (NYSE:MGY) PT at $27.58

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have been assigned an average recommendation of “Hold” from the thirteen ratings firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $27.58.

A number of equities research analysts have recently issued reports on MGY shares. Truist Financial upped their target price on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Monday. Piper Sandler dropped their price objective on shares of Magnolia Oil & Gas from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Bank of America reissued a “neutral” rating and issued a $28.00 target price (down from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday. Siebert Williams Shank lowered Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company downgraded Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $26.00 to $22.00 in a research report on Tuesday, October 1st.

Magnolia Oil & Gas Trading Up 2.2 %

MGY stock opened at $25.42 on Thursday. The business’s 50-day moving average is $25.64 and its 200 day moving average is $25.50. Magnolia Oil & Gas has a 12-month low of $19.16 and a 12-month high of $29.02. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.29 and a beta of 2.00. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The firm had revenue of $333.14 million for the quarter, compared to analyst estimates of $331.45 million. On average, sell-side analysts anticipate that Magnolia Oil & Gas will post 2 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Friday, November 8th. Magnolia Oil & Gas’s dividend payout ratio is presently 25.74%.

Institutional Trading of Magnolia Oil & Gas

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC raised its stake in shares of Magnolia Oil & Gas by 174.9% in the 3rd quarter. FMR LLC now owns 34,851 shares of the company’s stock valued at $851,000 after acquiring an additional 22,171 shares during the period. Oliver Luxxe Assets LLC raised its position in Magnolia Oil & Gas by 80.6% in the third quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company’s stock valued at $2,140,000 after purchasing an additional 39,098 shares during the period. HighTower Advisors LLC acquired a new position in Magnolia Oil & Gas during the third quarter worth $353,000. Ensign Peak Advisors Inc boosted its position in shares of Magnolia Oil & Gas by 5.6% during the second quarter. Ensign Peak Advisors Inc now owns 68,919 shares of the company’s stock worth $1,746,000 after buying an additional 3,630 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in shares of Magnolia Oil & Gas in the third quarter valued at $1,252,000. 94.73% of the stock is currently owned by hedge funds and other 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.