Magnolia Oil & Gas (NYSE:MGY) Given New $21.00 Price Target at Wells Fargo & Company

Magnolia Oil & Gas (NYSE:MGY) had its price target reduced by Wells Fargo & Company from $22.00 to $21.00 in a research note released on Monday,Benzinga reports. They currently have an underweight rating on the stock.

Other equities analysts also recently issued reports about the stock. UBS Group reaffirmed a “buy” rating and set a $29.00 price objective (up from $26.00) on shares of Magnolia Oil & Gas in a report on Friday. Susquehanna dropped their price target on Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their target price on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Piper Sandler reduced their target price on Magnolia Oil & Gas from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Finally, Citigroup cut their price objective on Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating for the company in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $27.00.

Magnolia Oil & Gas Trading Down 0.4%

Magnolia Oil & Gas stock opened at $24.12 on Monday. Magnolia Oil & Gas has a 52 week low of $19.09 and a 52 week high of $29.02. The stock has a 50-day moving average price of $21.84 and a 200 day moving average price of $23.37. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 3.01 and a beta of 1.29.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $350.30 million for the quarter, compared to analyst estimates of $337.83 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 earnings per share. Sell-side analysts anticipate that Magnolia Oil & Gas will post 2.1 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 12th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Monday, May 12th. Magnolia Oil & Gas’s dividend payout ratio is currently 29.85%.

Institutional Trading of Magnolia Oil & Gas

Hedge funds have recently modified their holdings of the stock. State of Wyoming raised its position in Magnolia Oil & Gas by 8.2% in the 1st quarter. State of Wyoming now owns 5,777 shares of the company’s stock valued at $146,000 after purchasing an additional 440 shares in the last quarter. Isthmus Partners LLC raised its holdings in Magnolia Oil & Gas by 5.2% in the fourth quarter. Isthmus Partners LLC now owns 9,320 shares of the company’s stock valued at $218,000 after acquiring an additional 460 shares in the last quarter. OneDigital Investment Advisors LLC lifted its stake in Magnolia Oil & Gas by 3.0% in the fourth quarter. OneDigital Investment Advisors LLC now owns 15,768 shares of the company’s stock worth $369,000 after acquiring an additional 464 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Magnolia Oil & Gas by 1.4% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,783 shares of the company’s stock worth $954,000 after acquiring an additional 564 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in shares of Magnolia Oil & Gas by 112.3% in the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock valued at $25,000 after purchasing an additional 567 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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.