Magnolia Oil & Gas Corp (NYSE:MGY) Given Consensus Recommendation of “Moderate Buy” by Analysts

Magnolia Oil & Gas Corp (NYSE:MGY) has been assigned an average recommendation of “Moderate Buy” from the sixteen analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $27.00.

A number of equities analysts have issued reports on the company. Piper Sandler increased their price target on Magnolia Oil & Gas from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday. UBS Group restated a “buy” rating and issued a $29.00 price objective on shares of Magnolia Oil & Gas in a report on Friday, January 9th. KeyCorp lifted their target price on Magnolia Oil & Gas from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday. Susquehanna dropped their price target on shares of Magnolia Oil & Gas from $30.00 to $28.00 and set a “positive” rating on the stock in a research report on Monday, January 26th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Magnolia Oil & Gas in a research report on Thursday, January 22nd.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Magnolia Oil & Gas by 236.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company’s stock worth $27,000 after acquiring an additional 836 shares in the last quarter. Salomon & Ludwin LLC lifted its holdings in shares of Magnolia Oil & Gas by 130.1% during the fourth quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock valued at $29,000 after purchasing an additional 760 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Magnolia Oil & Gas in the 2nd quarter valued at $30,000. Mather Group LLC. acquired a new position in shares of Magnolia Oil & Gas in the 3rd quarter valued at $31,000. Finally, EverSource Wealth Advisors LLC increased its stake in Magnolia Oil & Gas by 165.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock worth $31,000 after purchasing an additional 864 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Down 3.6%

Magnolia Oil & Gas stock opened at $25.99 on Friday. Magnolia Oil & Gas has a 52 week low of $19.09 and a 52 week high of $27.47. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of 15.11 and a beta of 0.96. The company’s 50-day moving average price is $23.35 and its two-hundred day moving average price is $23.45. The company has a current ratio of 1.54, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.79%. The business had revenue of $317.63 million during the quarter, compared to analysts’ expectations of $322.18 million. During the same period last year, the firm posted $0.44 earnings per share. The business’s revenue was down 2.8% on a year-over-year basis. On average, analysts expect that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be issued a dividend of $0.165 per share. The ex-dividend date is Tuesday, February 10th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a yield of 2.5%. Magnolia Oil & Gas’s payout ratio is 38.37%.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).