Magnolia Oil & Gas (NYSE:MGY) Price Target Lowered to $27.00 at Mizuho

Magnolia Oil & Gas (NYSE:MGY) had its price objective reduced by Mizuho from $28.00 to $27.00 in a research note published on Monday morning, Benzinga reports. Mizuho currently has a neutral rating on the stock.

A number of other equities research analysts have also recently weighed in on MGY. Wells Fargo & Company reduced their price objective on Magnolia Oil & Gas from $27.00 to $26.00 and set an equal weight rating for the company in a research note on Monday, August 5th. JPMorgan Chase & Co. dropped their target price on Magnolia Oil & Gas from $26.00 to $23.00 and set a neutral rating on the stock in a report on Thursday, September 12th. Bank of America boosted their target price on Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a buy rating in a report on Tuesday, July 23rd. Capital One Financial initiated coverage on Magnolia Oil & Gas in a report on Tuesday, June 11th. They issued an overweight rating and a $28.00 target price on the stock. Finally, Truist Financial upped their price objective on Magnolia Oil & Gas from $34.00 to $35.00 and gave the stock a buy rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $28.00.

Magnolia Oil & Gas Price Performance

MGY stock opened at $25.91 on Monday. The business has a 50 day moving average price of $25.17 and a 200 day moving average price of $25.24. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 1.18 and a beta of 2.00. Magnolia Oil & Gas has a fifty-two week low of $19.16 and a fifty-two week high of $27.63. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.05. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. The firm had revenue of $336.73 million during the quarter, compared to analysts’ expectations of $340.72 million. Equities research analysts anticipate that Magnolia Oil & Gas will post 2.08 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Friday, August 9th. Magnolia Oil & Gas’s dividend payout ratio is presently 25.87%.

Institutional Trading of Magnolia Oil & Gas

Hedge funds have recently made changes to their positions in the stock. Mather Group LLC. bought a new stake in Magnolia Oil & Gas during the 1st quarter valued at $27,000. Massmutual Trust Co. FSB ADV increased its position in shares of Magnolia Oil & Gas by 1,753.6% during 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 period. Opal Wealth Advisors LLC acquired a new position in shares of Magnolia Oil & Gas during the 2nd quarter valued at $26,000. GAMMA Investing LLC increased its position in shares of Magnolia Oil & Gas by 184.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $41,000 after purchasing an additional 1,042 shares during the period. Finally, Lindbrook Capital LLC increased its position in shares of Magnolia Oil & Gas by 61.5% during the 1st quarter. Lindbrook Capital LLC now owns 1,647 shares of the company’s stock valued at $43,000 after purchasing an additional 627 shares during the period. 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.