Magnolia Oil & Gas’ (MGY) Neutral Rating Reiterated at Piper Sandler

Piper Sandler reissued their neutral rating on shares of Magnolia Oil & Gas (NYSE:MGY) in a research report released on Friday morning, Marketbeat.com reports. Piper Sandler currently has a $29.00 price objective on the stock.

Other research analysts have also issued research reports about the stock. Bank of America initiated coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, February 27th. They issued a buy rating and a $25.00 price objective for the company. Truist Financial boosted their target price on Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a buy rating in a research note on Friday, February 16th. Mizuho increased their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a neutral rating in a research report on Thursday, March 14th. Wells Fargo & Company upped their target price on shares of Magnolia Oil & Gas from $23.00 to $27.00 and gave the stock an equal weight rating in a research note on Thursday, April 18th. Finally, Citigroup boosted their price target on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a sell rating in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Magnolia Oil & Gas has a consensus rating of Hold and an average price target of $27.63.

Magnolia Oil & Gas Trading Up 0.4 %

MGY stock opened at $25.72 on Friday. 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 12-month low of $18.72 and a 12-month high of $27.33. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.58 and a beta of 2.05. The business’s 50-day moving average is $24.17 and its 200 day moving average is $22.39.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 EPS 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 company had revenue of $322.63 million during the quarter, compared to analyst estimates of $324.95 million. On average, sell-side analysts anticipate that Magnolia Oil & Gas will post 2.08 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, February 15th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.02%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.37%.

Institutional Trading of Magnolia Oil & Gas

A number of large investors have recently bought and sold shares of the business. First Trust Advisors LP raised its holdings in Magnolia Oil & Gas by 20.2% during the fourth quarter. First Trust Advisors LP now owns 10,126,891 shares of the company’s stock worth $215,602,000 after purchasing an additional 1,704,982 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Magnolia Oil & Gas by 2.1% in the 4th quarter. Victory Capital Management Inc. now owns 6,162,526 shares of the company’s stock valued at $131,200,000 after buying an additional 128,097 shares during the period. American Century Companies Inc. boosted its stake in shares of Magnolia Oil & Gas by 24.7% in the third quarter. American Century Companies Inc. now owns 6,009,953 shares of the company’s stock valued at $137,688,000 after buying an additional 1,188,536 shares in the last quarter. Wasatch Advisors LP raised its position in Magnolia Oil & Gas by 2.2% in the fourth quarter. Wasatch Advisors LP now owns 3,679,262 shares of the company’s stock worth $78,331,000 after acquiring an additional 77,733 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Magnolia Oil & Gas by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,506,042 shares of the company’s stock valued at $74,647,000 after acquiring an additional 257,806 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

About Magnolia Oil & Gas

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.