Magnolia Oil & Gas Co. (NYSE:MGY) Receives $27.58 Consensus Target Price from Brokerages

Magnolia Oil & Gas Co. (NYSE:MGY) has received an average recommendation of “Hold” from the thirteen ratings firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $27.58.

MGY has been the subject of a number of research analyst reports. Truist Financial lifted their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Monday. Piper Sandler decreased their target price on Magnolia Oil & Gas from $26.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Siebert Williams Shank cut shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research note on Tuesday, October 15th. Bank of America reiterated a “neutral” rating and issued a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday. Finally, Wells Fargo & Company cut shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $26.00 to $22.00 in a report on Tuesday, October 1st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Harbor Capital Advisors Inc. purchased a new stake in shares of Magnolia Oil & Gas in the 3rd quarter worth $25,000. First Horizon Advisors Inc. grew its holdings in Magnolia Oil & Gas by 64.7% during the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock valued at $25,000 after purchasing an additional 396 shares during the period. GAMMA Investing LLC increased its position in Magnolia Oil & Gas by 62.4% in the third quarter. GAMMA Investing LLC now owns 2,609 shares of the company’s stock worth $64,000 after buying an additional 1,002 shares in the last quarter. Covestor Ltd increased its position in Magnolia Oil & Gas by 36.8% in the third quarter. Covestor Ltd now owns 2,986 shares of the company’s stock worth $73,000 after buying an additional 804 shares in the last quarter. Finally, Truvestments Capital LLC bought a new position in shares of Magnolia Oil & Gas in the third quarter worth about $90,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $26.53 on Thursday. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 1.25 and a beta of 2.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. Magnolia Oil & Gas has a one year low of $19.16 and a one year high of $29.02. The company’s 50-day moving average is $25.63 and its 200 day moving average is $25.51.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. The firm had revenue of $333.14 million for the quarter, compared to analysts’ expectations of $331.45 million. Sell-side analysts expect that Magnolia Oil & Gas will post 2 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 1.96%. Magnolia Oil & Gas’s dividend payout ratio is currently 25.74%.

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.