Mizuho Issues Positive Forecast for Magnolia Oil & Gas (NYSE:MGY) Stock Price

Magnolia Oil & Gas (NYSE:MGY) had its price objective lifted by Mizuho from $27.00 to $28.00 in a report released on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also issued reports about the company. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Truist Financial boosted their target price on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “buy” rating in a report on Friday, November 1st. Siebert Williams Shank lowered shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research note on Tuesday, October 15th. Wells Fargo & Company lowered shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $26.00 to $22.00 in a research note on Tuesday, October 1st. Finally, Susquehanna decreased their target price 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. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $27.58.

Magnolia Oil & Gas Trading Down 3.7 %

NYSE:MGY opened at $23.34 on Monday. The company has a 50-day moving average price of $26.46 and a 200-day moving average price of $25.62. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of 1.29 and a beta of 1.99. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas has a 12 month low of $19.16 and a 12 month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. The business had revenue of $333.14 million during the quarter, compared to analyst estimates of $331.45 million. Equities analysts predict that Magnolia Oil & Gas will post 2 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Friday, November 8th. Magnolia Oil & Gas’s payout ratio is 25.74%.

Insider Activity

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $25.86, for a total value of $181,020,000.00. Following the completion of the transaction, the director now owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. The trade was a 76.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Magnolia Oil & Gas

Institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. bought a new position in Magnolia Oil & Gas during the third quarter valued at approximately $25,000. First Horizon Advisors Inc. grew its position in Magnolia Oil & Gas by 64.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after purchasing an additional 396 shares during the period. GAMMA Investing LLC raised its stake in Magnolia Oil & Gas by 62.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,609 shares of the company’s stock valued at $64,000 after buying an additional 1,002 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Magnolia Oil & Gas by 61.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company’s stock valued at $72,000 after buying an additional 1,090 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Magnolia Oil & Gas by 36.8% during the 3rd quarter. Covestor Ltd now owns 2,986 shares of the company’s stock valued at $73,000 after buying an additional 804 shares during the period. Hedge funds and other 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.