Magnolia Oil & Gas (NYSE:MGY) Price Target Increased to $22.00 by Analysts at Citigroup

Magnolia Oil & Gas (NYSE:MGY) had its price target raised by Citigroup from $18.00 to $22.00 in a research report sent to investors on Monday morning, Benzinga reports. Citigroup currently has a sell rating on the stock.

Several other equities research analysts have also weighed in on the company. Piper Sandler decreased their price objective on Magnolia Oil & Gas from $30.00 to $29.00 and set an overweight rating for the company in a report on Wednesday, January 24th. The Goldman Sachs Group boosted their price target on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a buy rating in a research report on Tuesday, March 26th. Truist Financial raised their price objective on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a buy rating in a report on Friday, February 16th. Mizuho boosted their target price 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, Wells Fargo & Company cut their price target on Magnolia Oil & Gas from $23.00 to $21.00 and set an equal weight rating for the company in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Magnolia Oil & Gas presently has a consensus rating of Hold and an average price target of $26.29.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock opened at $26.19 on Monday. The stock has a market capitalization of $5.35 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 1.68 and a beta of 2.05. 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 stock has a fifty day moving average of $23.74 and a 200-day moving average of $22.29.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, February 14th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.04). The business had revenue of $322.63 million for the quarter, compared to the consensus estimate of $324.95 million. Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. On average, sell-side analysts expect that Magnolia Oil & Gas will post 2.03 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were given a $0.13 dividend. The ex-dividend date was Thursday, February 15th. This represents a $0.52 annualized dividend and a yield of 1.99%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. Magnolia Oil & Gas’s payout ratio is presently 25.37%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MGY. Bank of Montreal Can boosted its position in Magnolia Oil & Gas by 2.4% during the 2nd quarter. Bank of Montreal Can now owns 20,230 shares of the company’s stock valued at $463,000 after buying an additional 473 shares during the period. Albert D Mason Inc. raised its position in Magnolia Oil & Gas by 1.6% during the 4th quarter. Albert D Mason Inc. now owns 31,094 shares of the company’s stock valued at $662,000 after purchasing an additional 490 shares during the last quarter. Advantage Alpha Capital Partners LP increased its stake in shares of Magnolia Oil & Gas by 1.1% during the fourth quarter. Advantage Alpha Capital Partners LP now owns 46,895 shares of the company’s stock valued at $1,100,000 after buying an additional 501 shares during the period. Signaturefd LLC raised its holdings in shares of Magnolia Oil & Gas by 6.7% during the third quarter. Signaturefd LLC now owns 8,325 shares of the company’s stock valued at $191,000 after acquiring an additional 523 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in Magnolia Oil & Gas by 4.7% in the first quarter. Hsbc Holdings PLC now owns 12,112 shares of the company’s stock worth $293,000 after acquiring an additional 539 shares during the period. Institutional investors own 94.73% of the company’s stock.

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.