Brokerages Set Magnolia Oil & Gas Co. (NYSE:MGY) PT at $27.54

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have earned a consensus recommendation of “Hold” from the fourteen analysts that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $27.54.

A number of equities research analysts have commented on MGY shares. Piper Sandler increased their price objective on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price objective on Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. The Goldman Sachs Group lowered Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Bank of America reaffirmed a “neutral” rating and set a $28.00 price target (down previously from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Finally, Johnson Rice lowered Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th.

Insider Activity at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the transaction, the chief executive officer now owns 892,372 shares of the company’s stock, valued at $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MGY. Vanguard Group Inc. boosted its stake in Magnolia Oil & Gas by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company’s stock worth $489,535,000 after purchasing an additional 452,836 shares during the period. First Trust Advisors LP raised its position in Magnolia Oil & Gas by 24.6% in the 4th quarter. First Trust Advisors LP now owns 15,410,496 shares of the company’s stock valued at $360,297,000 after buying an additional 3,038,709 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Magnolia Oil & Gas by 11.7% in the 4th quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company’s stock valued at $149,559,000 after acquiring an additional 667,973 shares in the last quarter. Wellington Management Group LLP boosted its position in Magnolia Oil & Gas by 0.5% during the 4th quarter. Wellington Management Group LLP now owns 5,020,646 shares of the company’s stock worth $117,383,000 after acquiring an additional 26,943 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Magnolia Oil & Gas by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,768,047 shares of the company’s stock worth $111,475,000 after acquiring an additional 86,166 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

NYSE:MGY opened at $20.21 on Friday. The firm has a market cap of $3.92 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57. The company’s 50-day moving average price is $23.05 and its two-hundred day moving average price is $24.66. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas has a 12 month low of $19.09 and a 12 month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $326.61 million during the quarter, compared to analysts’ expectations of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. On average, equities analysts anticipate that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.97%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 31.09%.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.