Magnolia Oil & Gas (NYSE:MGY) PT Raised to $27.00 at Wells Fargo & Company

Magnolia Oil & Gas (NYSE:MGYFree Report) had its price objective boosted by Wells Fargo & Company from $23.00 to $27.00 in a research note published on Thursday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts have also recently weighed in on the company. Citigroup boosted their price objective on Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a sell rating in a research report on Monday, April 15th. Truist Financial boosted their target price on Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a buy rating in a research note on Friday, February 16th. Bank of America initiated coverage on Magnolia Oil & Gas in a research note on Tuesday, February 27th. They issued a buy rating and a $25.00 target price on the stock. The Goldman Sachs Group boosted their target price on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a buy rating in a research note on Tuesday, March 26th. Finally, Piper Sandler lowered their target price on Magnolia Oil & Gas from $30.00 to $29.00 and set an overweight rating on the stock in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and an average target price of $27.14.

Read Our Latest Research Report on MGY

Magnolia Oil & Gas Stock Down 0.2 %

MGY stock opened at $25.62 on Thursday. The stock’s fifty day simple moving average is $24.17 and its two-hundred day simple moving average is $22.38. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas has a 1-year low of $18.72 and a 1-year high of $27.33. The stock has a market cap of $5.23 billion, a P/E ratio of 12.50, a P/E/G ratio of 1.58 and a beta of 2.05.

Magnolia Oil & Gas (NYSE:MGYGet Free Report) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.04). Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. The business had revenue of $322.63 million during the quarter, compared to analysts’ expectations of $324.95 million. Analysts expect that Magnolia Oil & Gas will post 2.08 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.03%. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, February 15th. Magnolia Oil & Gas’s payout ratio is presently 25.37%.

Institutional Trading of Magnolia Oil & Gas

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its stake in shares of Magnolia Oil & Gas by 9.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,041,390 shares of the company’s stock valued at $64,751,000 after purchasing an additional 274,908 shares during the period. Vest Financial LLC increased its stake in Magnolia Oil & Gas by 51.4% in the 4th quarter. Vest Financial LLC now owns 606,277 shares of the company’s stock worth $12,908,000 after acquiring an additional 205,924 shares during the last quarter. VisionPoint Advisory Group LLC increased its stake in Magnolia Oil & Gas by 112.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after acquiring an additional 813 shares during the last quarter. Sei Investments Co. increased its stake in Magnolia Oil & Gas by 6.2% in the 3rd quarter. Sei Investments Co. now owns 818,397 shares of the company’s stock worth $18,750,000 after acquiring an additional 47,564 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Magnolia Oil & Gas by 12.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,735,955 shares of the company’s stock worth $39,771,000 after acquiring an additional 195,467 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Company Profile

(Get Free Report)

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.

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