Magnolia Oil & Gas (NYSE:MGY) Downgraded by Siebert Williams Shank

Siebert Williams Shank downgraded shares of Magnolia Oil & Gas (NYSE:MGY) from a buy rating to a hold rating in a report released on Tuesday morning, Marketbeat.com reports. Siebert Williams Shank currently has $30.00 price objective on the stock.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. cut their target price on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Wolfe Research initiated coverage on shares of Magnolia Oil & Gas in a research report on Thursday, July 18th. They issued an “outperform” rating and a $32.00 price target for the company. Mizuho reduced their price target on shares of 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. Truist Financial reduced their price target on shares of Magnolia Oil & Gas from $35.00 to $31.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, Susquehanna reduced their price target on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Magnolia Oil & Gas currently has an average rating of “Hold” and an average target price of $27.50.

Magnolia Oil & Gas Stock Up 0.6 %

MGY stock opened at $26.49 on Tuesday. Magnolia Oil & Gas has a 12 month low of $19.16 and a 12 month high of $27.63. The firm has a market cap of $5.37 billion, a PE ratio of 13.18, a P/E/G ratio of 1.36 and a beta of 1.99. The firm has a 50 day simple moving average of $25.14 and a 200 day simple moving average of $25.43. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $340.72 million. Equities research analysts forecast that Magnolia Oil & Gas will post 1.99 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a $0.13 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.52 dividend on an annualized basis and a yield of 1.96%. Magnolia Oil & Gas’s payout ratio is 25.87%.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $25.86, for a total value of $181,020,000.00. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MGY. Vanguard Group Inc. increased its stake in shares of Magnolia Oil & Gas by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock worth $538,654,000 after purchasing an additional 2,956,314 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Magnolia Oil & Gas by 2,799.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,881,039 shares of the company’s stock worth $48,813,000 after purchasing an additional 1,816,158 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Magnolia Oil & Gas during the 1st quarter worth $30,161,000. American Century Companies Inc. grew its stake in Magnolia Oil & Gas by 9.9% in the 2nd quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock valued at $237,927,000 after buying an additional 847,542 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Magnolia Oil & Gas by 16.1% in the 2nd 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. Institutional investors and hedge funds 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.