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

Magnolia Oil & Gas Co. (NYSE:MGY) has been given a consensus recommendation of “Hold” by the fourteen brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $27.58.

MGY has been the subject of several analyst reports. Truist Financial boosted their price target on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, January 13th. Piper Sandler upped their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Bank of America restated a “neutral” rating and set a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Johnson Rice lowered Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, Mizuho increased their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th.

Magnolia Oil & Gas Stock Up 0.2 %

Shares of NYSE:MGY opened at $22.63 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $4.39 billion, a P/E ratio of 11.72, a P/E/G ratio of 3.01 and a beta of 1.90. Magnolia Oil & Gas has a 52-week low of $21.63 and a 52-week high of $29.02. The stock’s fifty day simple moving average is $24.15 and its 200-day simple moving average is $25.13.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. The company had revenue of $326.61 million for the quarter, compared to analysts’ expectations of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. As a group, equities research analysts forecast that Magnolia Oil & Gas will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.65%. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 31.09%.

Insider Transactions at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros bought 2,500 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $22.05 per share, with a total value of $55,125.00. Following the completion of the transaction, the chief executive officer now owns 892,372 shares in the company, valued at $19,676,802.60. The trade was a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of hedge funds have recently bought and sold shares of MGY. Harbor Capital Advisors Inc. acquired a new position in shares of Magnolia Oil & Gas in the 3rd quarter valued at approximately $25,000. First Horizon Advisors Inc. increased its stake in shares of Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after buying an additional 396 shares during the last quarter. Larson Financial Group LLC raised its holdings in Magnolia Oil & Gas by 112.3% in the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares in the last quarter. Mather Group LLC. boosted its stake in Magnolia Oil & Gas by 100.0% during the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock valued at $25,000 after acquiring an additional 545 shares during the last quarter. Finally, R Squared Ltd acquired a new position in Magnolia Oil & Gas during the 4th quarter worth $43,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.