Magnolia Oil & Gas Co. (NYSE:MGY) Receives Average Rating of “Hold” from Brokerages

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have been given a consensus recommendation of “Hold” by the fourteen analysts that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $27.77.

A number of brokerages have issued reports on MGY. Johnson Rice lowered shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. The Goldman Sachs Group downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and reduced their price target for the company from $27.00 to $26.00 in a report on Friday, January 31st. Piper Sandler boosted their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Mizuho raised their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Finally, Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a research report on Wednesday, March 5th.

Magnolia Oil & Gas Trading Up 0.1 %

Shares of Magnolia Oil & Gas stock opened at $25.16 on Tuesday. Magnolia Oil & Gas has a fifty-two week low of $21.63 and a fifty-two week high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. The company has a market capitalization of $4.88 billion, a P/E ratio of 13.03, a P/E/G ratio of 3.01 and a beta of 1.90. The company has a fifty day moving average of $24.15 and a 200 day moving average of $25.03.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $326.61 million during the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. On average, sell-side analysts anticipate that Magnolia Oil & Gas will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.39%. The ex-dividend date was Friday, February 14th. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio is 31.09%.

Insider Transactions at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros purchased 2,500 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the acquisition, the chief executive officer now owns 892,372 shares in the company, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several large investors have recently added to or reduced their stakes in MGY. Vanguard Group Inc. raised its stake in shares of Magnolia Oil & Gas by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company’s stock valued at $489,535,000 after acquiring an additional 452,836 shares in the last quarter. First Trust Advisors LP increased its holdings in Magnolia Oil & Gas by 24.6% during the 4th quarter. First Trust Advisors LP now owns 15,410,496 shares of the company’s stock worth $360,297,000 after purchasing an additional 3,038,709 shares during the period. State Street Corp raised its position in Magnolia Oil & Gas by 4.2% during the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company’s stock valued at $261,300,000 after purchasing an additional 435,326 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Magnolia Oil & Gas by 11.7% in the 4th quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company’s stock worth $149,559,000 after buying an additional 667,973 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Magnolia Oil & Gas by 0.5% during the 4th quarter. Wellington Management Group LLP now owns 5,020,646 shares of the company’s stock worth $117,383,000 after buying an additional 26,943 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.