Magnolia Oil & Gas Corp (NYSE:MGY) Receives Consensus Recommendation of “Hold” from Analysts

Magnolia Oil & Gas Corp (NYSE:MGY) has received a consensus recommendation of “Hold” from the seventeen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $28.1818.

MGY has been the subject of a number of recent research reports. Piper Sandler increased their price objective on shares of Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Magnolia Oil & Gas in a research report on Thursday, January 22nd. Susquehanna lowered their target price on shares of Magnolia Oil & Gas from $30.00 to $28.00 and set a “positive” rating on the stock in a research note on Monday, January 26th. The Goldman Sachs Group increased their price target on shares of Magnolia Oil & Gas from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 11th. Finally, Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Wednesday, January 21st.

Institutional Trading of Magnolia Oil & Gas

Large investors have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Magnolia Oil & Gas by 236.2% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company’s stock valued at $27,000 after acquiring an additional 836 shares during the period. Salomon & Ludwin LLC boosted its stake in shares of Magnolia Oil & Gas by 130.1% in the 4th quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock valued at $29,000 after purchasing an additional 760 shares in the last quarter. Mather Group LLC. bought a new stake in shares of Magnolia Oil & Gas in the 3rd quarter worth about $31,000. EverSource Wealth Advisors LLC grew its holdings in shares of 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 during the last quarter. Finally, Torren Management LLC acquired a new stake in shares of Magnolia Oil & Gas during the 4th quarter worth about $38,000. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Price Performance

Shares of NYSE:MGY opened at $29.04 on Tuesday. The firm has a market capitalization of $5.41 billion, a PE ratio of 16.88 and a beta of 0.89. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas has a 1-year low of $19.09 and a 1-year high of $29.74. The business’s 50 day moving average is $25.18 and its 200-day moving average is $23.92.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Magnolia Oil & Gas had a return on equity of 16.67% and a net margin of 24.79%.The business had revenue of $317.63 million during the quarter, compared to analyst estimates of $322.18 million. During the same period in the prior year, the company posted $0.44 earnings per share. Magnolia Oil & Gas’s revenue was down 2.8% on a year-over-year basis. Sell-side analysts predict that Magnolia Oil & Gas will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 10th were given a dividend of $0.165 per share. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, February 10th. This represents a $0.66 annualized dividend and a dividend yield of 2.3%. Magnolia Oil & Gas’s dividend 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).