Magnolia Oil & Gas (NYSE:MGY) Price Target Raised to $34.00 at Truist Financial

Magnolia Oil & Gas (NYSE:MGY) had its price objective upped by Truist Financial from $33.00 to $34.00 in a research note published on Monday, MarketBeat Ratings reports. They currently have a hold rating on the stock.

MGY has been the topic of several other reports. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Wednesday, January 21st. Siebert Williams Shank lowered shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. Susquehanna reduced their price objective on shares of Magnolia Oil & Gas from $30.00 to $28.00 and set a “positive” rating for the company in a research note on Monday, January 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Magnolia Oil & Gas in a research note on Thursday, January 22nd. Finally, Zacks Research raised shares of Magnolia Oil & Gas from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.08.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock opened at $29.34 on Monday. The firm has a market capitalization of $5.47 billion, a P/E ratio of 17.06, a PEG ratio of 1.73 and a beta of 0.83. Magnolia Oil & Gas has a one year low of $20.25 and a one year high of $32.76. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 1.54. The business has a fifty day moving average price of $29.33 and a 200-day moving average price of $25.34.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $317.63 million for the quarter, compared to analyst estimates of $322.18 million. Magnolia Oil & Gas had a return on equity of 16.67% and a net margin of 24.79%.The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 EPS. As a group, equities research analysts forecast that Magnolia Oil & Gas will post 2.71 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.2%. Magnolia Oil & Gas’s dividend payout ratio is 38.37%.

Insider Activity at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, EVP Timothy D. Yang sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $29.29, for a total value of $4,393,500.00. Following the completion of the transaction, the executive vice president owned 526,661 shares of the company’s stock, valued at $15,425,900.69. The trade was a 22.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward P. Djerejian sold 18,000 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $28.98, for a total transaction of $521,640.00. Following the completion of the transaction, the director directly owned 110,425 shares in the company, valued at $3,200,116.50. The trade was a 14.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 338,954 shares of company stock valued at $9,911,733 in the last ninety days. Insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGY. State Street Corp increased its stake in Magnolia Oil & Gas by 1.4% in the fourth quarter. State Street Corp now owns 8,800,807 shares of the company’s stock valued at $192,650,000 after acquiring an additional 125,707 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Magnolia Oil & Gas by 4.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,634,362 shares of the company’s stock worth $145,230,000 after purchasing an additional 264,649 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Magnolia Oil & Gas by 26.6% in the 4th quarter. TD Asset Management Inc now owns 5,671,819 shares of the company’s stock worth $124,156,000 after purchasing an additional 1,193,458 shares in the last quarter. Epoch Investment Partners Inc. boosted its holdings in shares of Magnolia Oil & Gas by 28.8% in the 4th quarter. Epoch Investment Partners Inc. now owns 5,330,064 shares of the company’s stock worth $116,675,000 after purchasing an additional 1,191,438 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Magnolia Oil & Gas by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,225,168 shares of the company’s stock valued at $124,725,000 after purchasing an additional 113,458 shares during the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

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).