Magnolia Oil & Gas (NYSE:MGY) Given New $25.00 Price Target at Mizuho

Magnolia Oil & Gas (NYSE:MGY) had its target price decreased by Mizuho from $26.00 to $25.00 in a research report report published on Monday morning,Benzinga reports. Mizuho currently has a neutral rating on the stock.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company lowered their price objective on Magnolia Oil & Gas from $22.00 to $21.00 and set an “underweight” rating on the stock in a report on Monday, June 16th. Bank of America lifted their price objective on Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, May 23rd. Piper Sandler lifted their price objective on Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. William Blair assumed coverage on Magnolia Oil & Gas in a report on Monday, August 25th. They issued an “outperform” rating on the stock. Finally, Citigroup reiterated a “sell” rating on shares of Magnolia Oil & Gas in a report on Thursday, July 10th. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $26.42.

Magnolia Oil & Gas Price Performance

NYSE:MGY opened at $23.67 on Monday. Magnolia Oil & Gas has a 52 week low of $19.09 and a 52 week high of $29.02. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $4.52 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 3.14 and a beta of 1.33. The stock’s 50-day moving average price is $23.80 and its 200-day moving average price is $23.02.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%.The firm had revenue of $318.98 million for the quarter, compared to analysts’ expectations of $311.58 million. During the same period last year, the firm earned $0.51 EPS. The company’s quarterly revenue was down 5.3% on a year-over-year basis. As a group, equities analysts expect that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, August 11th. Magnolia Oil & Gas’s payout ratio is currently 31.41%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Encompass Capital Advisors LLC acquired a new position in Magnolia Oil & Gas in the first quarter valued at approximately $53,819,000. American Century Companies Inc. lifted its holdings in Magnolia Oil & Gas by 12.9% in the second quarter. American Century Companies Inc. now owns 11,861,231 shares of the company’s stock valued at $266,641,000 after acquiring an additional 1,358,878 shares during the last quarter. Jane Street Group LLC lifted its holdings in Magnolia Oil & Gas by 1,382.9% in the first quarter. Jane Street Group LLC now owns 1,059,335 shares of the company’s stock valued at $26,759,000 after acquiring an additional 987,896 shares during the last quarter. Millennium Management LLC lifted its holdings in Magnolia Oil & Gas by 506.2% in the first quarter. Millennium Management LLC now owns 1,022,836 shares of the company’s stock valued at $25,837,000 after acquiring an additional 854,113 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Magnolia Oil & Gas in the first quarter valued at approximately $21,066,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Company Profile

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.