Magnolia Oil & Gas Co. (NYSE:MGY) Receives Consensus Rating of “Hold” from Brokerages

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have been given an average recommendation of “Hold” by the thirteen analysts that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $27.67.

A number of equities analysts have recently commented on MGY shares. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Bank of America upped their target price on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Mizuho cut 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 report on Monday, September 16th. Susquehanna decreased their price target on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Finally, Piper Sandler dropped their price objective on Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th.

Magnolia Oil & Gas Stock Down 1.2 %

Shares of NYSE MGY opened at $24.98 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.28. The stock has a market capitalization of $4.97 billion, a PE ratio of 12.37, a P/E/G ratio of 1.29 and a beta of 1.99. Magnolia Oil & Gas has a one year low of $19.16 and a one year high of $27.63. The business’s fifty day moving average price is $25.32 and its 200-day moving average price is $25.37.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. The firm had revenue of $333.14 million during the quarter, compared to the consensus estimate of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. On average, equities research analysts anticipate that Magnolia Oil & Gas will post 1.99 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Friday, November 8th. Magnolia Oil & Gas’s dividend payout ratio is presently 25.74%.

Insider Buying and Selling

In other news, Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the completion of the sale, the director now owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several institutional investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Magnolia Oil & Gas during the third quarter worth about $25,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Magnolia Oil & Gas by 1,753.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock valued at $26,000 after buying an additional 982 shares during the period. Opal Wealth Advisors LLC bought a new position in shares of Magnolia Oil & Gas during the second quarter valued at approximately $26,000. GAMMA Investing LLC lifted its stake in Magnolia Oil & Gas by 184.4% in the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $41,000 after acquiring an additional 1,042 shares during the period. Finally, Fidelis Capital Partners LLC bought a new stake in Magnolia Oil & Gas in the first quarter valued at $50,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

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.