Magnolia Oil & Gas Co. (NYSE:MGY) Given Consensus Rating of “Hold” by Analysts

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have been assigned a consensus rating of “Hold” from the fourteen analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $27.54.

A number of research firms have recently weighed in on MGY. Piper Sandler raised their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Citigroup lowered their price target on Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating for the company in a report on Tuesday, April 8th. Truist Financial upped their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, January 13th. JPMorgan Chase & Co. lowered their target price on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Finally, Johnson Rice lowered shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th.

Insider Activity

In other news, CEO Christopher G. Stavros bought 2,500 shares of Magnolia Oil & Gas stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $22.05 per share, with a total value of $55,125.00. Following the completion of the purchase, the chief executive officer now directly owns 892,372 shares of the company’s stock, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Magnolia Oil & Gas

Several institutional investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC raised its position in Magnolia Oil & Gas by 26.7% in the first quarter. Exchange Traded Concepts LLC now owns 45,230 shares of the company’s stock valued at $1,143,000 after purchasing an additional 9,536 shares during the period. Foster Victor Wealth Advisors LLC boosted its stake in Magnolia Oil & Gas by 7.1% during the first quarter. Foster Victor Wealth Advisors LLC now owns 336,917 shares of the company’s stock worth $8,511,000 after buying an additional 22,402 shares during the period. Opal Wealth Advisors LLC purchased a new stake in shares of Magnolia Oil & Gas in the 1st quarter valued at approximately $30,000. Vista Finance LLC lifted its holdings in shares of Magnolia Oil & Gas by 7.0% in the 1st quarter. Vista Finance LLC now owns 11,663 shares of the company’s stock worth $295,000 after acquiring an additional 759 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Magnolia Oil & Gas by 4.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,470 shares of the company’s stock worth $391,000 after purchasing an additional 715 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

Shares of Magnolia Oil & Gas stock opened at $21.10 on Friday. Magnolia Oil & Gas has a one year low of $19.09 and a one year high of $29.02. The company has a market capitalization of $4.10 billion, a PE ratio of 10.93, a P/E/G ratio of 3.01 and a beta of 1.57. 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 50-day simple moving average of $23.11 and a two-hundred day simple moving average of $24.72.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The company had revenue of $326.61 million during the quarter, compared to analysts’ expectations of $327.40 million. Research analysts expect that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.15 per share. The ex-dividend date was Friday, February 14th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 2.84%. Magnolia Oil & Gas’s payout ratio is presently 31.09%.

About Magnolia Oil & Gas

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.