Magnolia Oil & Gas (NYSE:MGY) Given New $31.00 Price Target at Susquehanna

Magnolia Oil & Gas (NYSE:MGY) had its target price increased by Susquehanna from $28.00 to $31.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has a positive rating on the stock.

A number of other brokerages also recently commented on MGY. Bank of America began coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, February 27th. They issued a buy rating and a $25.00 price objective on the stock. Citigroup increased their price objective on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a sell rating in a research report on Monday, April 15th. Wells Fargo & Company increased 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 report on Thursday, April 18th. Piper Sandler reissued a neutral rating and issued a $29.00 price objective on shares of Magnolia Oil & Gas in a research report on Friday. Finally, Truist Financial increased their target price on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a buy rating in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Magnolia Oil & Gas has a consensus rating of Hold and an average price target of $27.63.

Magnolia Oil & Gas Price Performance

Shares of MGY opened at $25.72 on Monday. Magnolia Oil & Gas has a fifty-two week low of $18.72 and a fifty-two week high of $27.33. The firm’s 50 day moving average price is $24.27 and its 200 day moving average price is $22.42. The company has a market cap of $5.25 billion, a P/E ratio of 12.55, a PEG ratio of 1.58 and a beta of 2.05. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.21.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. The firm had revenue of $322.63 million during the quarter, compared to analysts’ expectations of $324.95 million. On average, research analysts forecast that Magnolia Oil & Gas will post 2.08 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were given a dividend of $0.13 per share. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Thursday, February 15th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 25.37%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its position in Magnolia Oil & Gas by 9.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,041,390 shares of the company’s stock worth $64,751,000 after purchasing an additional 274,908 shares during the last quarter. Vest Financial LLC grew its position in Magnolia Oil & Gas by 51.4% during the 4th quarter. Vest Financial LLC now owns 606,277 shares of the company’s stock worth $12,908,000 after purchasing an additional 205,924 shares during the last quarter. VisionPoint Advisory Group LLC grew its position in 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 purchasing an additional 813 shares during the last quarter. Sei Investments Co. grew its position in Magnolia Oil & Gas by 6.2% during the 3rd quarter. Sei Investments Co. now owns 818,397 shares of the company’s stock worth $18,750,000 after purchasing an additional 47,564 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Magnolia Oil & Gas by 12.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,735,955 shares of the company’s stock worth $39,771,000 after purchasing an additional 195,467 shares during the last quarter. 94.73% of the stock is 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.