Magnolia Oil & Gas Corp (NYSE:MGY) Receives $26.42 Consensus Price Target from Analysts

Magnolia Oil & Gas Corp (NYSE:MGY) has earned an average rating of “Hold” from the fourteen analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $26.4167.

Several brokerages have recently issued reports on MGY. Piper Sandler boosted their price objective on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Citigroup reissued a “sell” rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. Mizuho reduced their target price on shares of Magnolia Oil & Gas from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday. Bank of America lifted their target price on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, May 23rd. Finally, UBS Group restated a “buy” rating and set a $29.00 target price (up previously from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th.

Magnolia Oil & Gas Stock Down 0.1%

Shares of NYSE MGY opened at $24.65 on Tuesday. Magnolia Oil & Gas has a 52-week low of $19.09 and a 52-week high of $29.02. The firm has a fifty day moving average of $23.87 and a 200-day moving average of $23.06. The stock has a market capitalization of $4.70 billion, a PE ratio of 12.91, a P/E/G ratio of 3.25 and a beta of 1.33. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. The company had revenue of $318.98 million during the quarter, compared to analysts’ expectations of $311.58 million. During the same period in the previous year, the company earned $0.51 EPS. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, analysts anticipate that Magnolia Oil & Gas will post 2.1 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 11th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 2.4%. Magnolia Oil & Gas’s payout ratio is presently 31.41%.

Hedge Funds Weigh In On Magnolia Oil & Gas

Several hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. lifted its holdings in Magnolia Oil & Gas by 12.9% in the 2nd quarter. American Century Companies Inc. now owns 11,861,231 shares of the company’s stock worth $266,641,000 after buying an additional 1,358,878 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Magnolia Oil & Gas by 12.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,365,892 shares of the company’s stock valued at $135,541,000 after purchasing an additional 597,845 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Magnolia Oil & Gas by 5.6% in the 2nd quarter. Geode Capital Management LLC now owns 4,531,855 shares of the company’s stock valued at $101,895,000 after purchasing an additional 238,356 shares in the last quarter. Boston Trust Walden Corp raised its stake in shares of Magnolia Oil & Gas by 26.0% in the 2nd quarter. Boston Trust Walden Corp now owns 4,003,770 shares of the company’s stock valued at $90,005,000 after purchasing an additional 825,162 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Magnolia Oil & Gas by 4.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,307,951 shares of the company’s stock valued at $75,454,000 after purchasing an additional 132,564 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

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.