Magnolia Oil & Gas (NYSE:MGY) PT Lowered to $34.00

Magnolia Oil & Gas (NYSE:MGY) had its price target cut by Truist Financial from $35.00 to $34.00 in a research note published on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently commented on the company. Citigroup raised their target price 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. Wells Fargo & Company upped their price target 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. Susquehanna boosted their price target on Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a positive rating in a research note on Monday. Benchmark reiterated a hold rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 18th. Finally, The Goldman Sachs Group raised their price target on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a buy rating in a report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Magnolia Oil & Gas currently has a consensus rating of Hold and an average target price of $29.00.

Magnolia Oil & Gas Price Performance

Shares of NYSE MGY opened at $26.06 on Monday. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average of $25.36 and a two-hundred day moving average of $24.11. Magnolia Oil & Gas has a twelve month low of $19.16 and a twelve month high of $27.62. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 0.95 and a beta of 2.02.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.05. The business had revenue of $319.42 million during the quarter, compared to analyst estimates of $308.21 million. Magnolia Oil & Gas had a return on equity of 20.41% and a net margin of 30.46%. As a group, analysts expect that Magnolia Oil & Gas will post 2.2 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were paid a $0.13 dividend. The ex-dividend date was Friday, May 10th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.00%. Magnolia Oil & Gas’s payout ratio is 25.87%.

Insider Activity at Magnolia Oil & Gas

In other news, Director John B. Walker sold 12,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $25.58, for a total value of $306,960,000.00. Following the sale, the director now directly owns 4,164,961 shares in the company, valued at approximately $106,539,702.38. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several large investors have recently made changes to their positions in MGY. Massmutual Trust Co. FSB ADV raised its position in Magnolia Oil & Gas by 1,753.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock valued at $26,000 after purchasing an additional 982 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in Magnolia Oil & Gas in the 2nd quarter valued at $26,000. Mather Group LLC. acquired a new position in shares of Magnolia Oil & Gas during the first quarter valued at $27,000. Private Wealth Management Group LLC acquired a new stake in Magnolia Oil & Gas in the fourth quarter worth $33,000. Finally, GAMMA Investing LLC boosted its holdings in Magnolia Oil & Gas by 184.4% during the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $41,000 after purchasing an additional 1,042 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Company Profile

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.