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

Magnolia Oil & Gas Co. (NYSE:MGY) has been assigned a consensus rating of “Hold” from the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $27.27.

A number of brokerages have weighed in on MGY. Mizuho decreased their target price on Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Capital One Financial initiated coverage on shares of Magnolia Oil & Gas in a report on Tuesday, June 11th. They set an “overweight” rating and a $28.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Piper Sandler dropped their price objective on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Finally, Susquehanna reduced their price objective on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the transaction, the director now owns 2,099,403 shares in the company, valued at $54,290,561.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.20% of the stock is currently owned by company insiders.

Institutional Trading of Magnolia Oil & Gas

Several large investors have recently bought and sold shares of MGY. Vanguard Group Inc. lifted its stake in shares of Magnolia Oil & Gas by 16.6% during the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock worth $538,654,000 after buying an additional 2,956,314 shares during the period. First Trust Advisors LP raised its stake in shares of Magnolia Oil & Gas by 20.2% in the fourth quarter. First Trust Advisors LP now owns 10,126,891 shares of the company’s stock worth $215,602,000 after purchasing an additional 1,704,982 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Magnolia Oil & Gas by 9.9% during the second quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock worth $237,927,000 after purchasing an additional 847,542 shares during the period. Dimensional Fund Advisors LP boosted its position in Magnolia Oil & Gas by 16.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock valued at $114,554,000 after buying an additional 627,933 shares during the last quarter. Finally, Wasatch Advisors LP increased its holdings in Magnolia Oil & Gas by 2.2% in the 4th quarter. Wasatch Advisors LP now owns 3,679,262 shares of the company’s stock worth $78,331,000 after buying an additional 77,733 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

Shares of MGY stock opened at $27.01 on Tuesday. The stock has a 50 day moving average price of $24.89 and a 200 day moving average price of $25.38. The firm has a market capitalization of $5.48 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.29 and a beta of 1.99. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.28 and a current ratio of 1.28. Magnolia Oil & Gas has a 52-week low of $19.16 and a 52-week high of $27.63.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. The business had revenue of $336.73 million for the quarter, compared to the consensus estimate of $340.72 million. As a group, sell-side analysts predict that Magnolia Oil & Gas will post 1.98 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Friday, August 9th. Magnolia Oil & Gas’s dividend payout ratio is currently 25.87%.

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.