Magnolia Oil & Gas Co. (NYSE:MGY) Given Average Rating of “Hold” by Brokerages

Magnolia Oil & Gas Co. (NYSE:MGY) has been given a consensus recommendation of “Hold” by the nine analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $27.63.

A number of brokerages have issued reports on MGY. Truist Financial lifted 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 note on Friday, February 16th. Bank of America began coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, February 27th. They set a “buy” rating and a $25.00 target price for the company. The Goldman Sachs Group boosted their target price on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. Susquehanna boosted their target price on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Finally, Citigroup boosted their target price on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a “sell” rating in a research report on Monday, April 15th.

Magnolia Oil & Gas Trading Up 0.8 %

Shares of NYSE:MGY opened at $25.11 on Friday. The firm has a fifty day moving average of $25.04 and a two-hundred day moving average of $22.60. The firm has a market capitalization of $5.13 billion, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 1.49 and a beta of 2.03. Magnolia Oil & Gas has a 12-month low of $18.72 and a 12-month high of $27.33. 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 issued its earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The company had revenue of $322.63 million for the quarter, compared to analyst estimates of $324.95 million. Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. On average, equities analysts expect that Magnolia Oil & Gas will post 2.11 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.52 annualized dividend and a dividend yield of 2.07%. Magnolia Oil & Gas’s payout ratio is 25.37%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MGY. First Trust Advisors LP increased its stake in Magnolia Oil & Gas by 20.2% in the fourth quarter. First Trust Advisors LP now owns 10,126,891 shares of the company’s stock valued at $215,602,000 after acquiring an additional 1,704,982 shares during the period. Victory Capital Management Inc. increased its stake in Magnolia Oil & Gas by 2.1% in the fourth quarter. Victory Capital Management Inc. now owns 6,162,526 shares of the company’s stock valued at $131,200,000 after acquiring an additional 128,097 shares during the period. American Century Companies Inc. increased its stake in Magnolia Oil & Gas by 24.7% in the third quarter. American Century Companies Inc. now owns 6,009,953 shares of the company’s stock valued at $137,688,000 after acquiring an additional 1,188,536 shares during the period. Wasatch Advisors LP increased its stake in Magnolia Oil & Gas by 2.2% in the fourth quarter. Wasatch Advisors LP now owns 3,679,262 shares of the company’s stock valued at $78,331,000 after acquiring an additional 77,733 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Magnolia Oil & Gas by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,506,042 shares of the company’s stock valued at $74,647,000 after acquiring an additional 257,806 shares during the period. Institutional investors own 94.73% of the company’s stock.

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.