Magnolia Oil & Gas Co. (NYSE:MGY) Receives $27.77 Average Price Target from Brokerages

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have earned an average rating of “Hold” from the fourteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $27.77.

MGY has been the topic of several research analyst reports. Bank of America restated a “neutral” rating and set a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. JPMorgan Chase & Co. reduced their price objective on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Mizuho boosted their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Williams Trading set a $29.00 target price on shares of Magnolia Oil & Gas in a research note on Wednesday, March 5th. Finally, Piper Sandler lifted their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $25.26 on Tuesday. The stock has a market capitalization of $4.91 billion, a PE ratio of 13.09, a PEG ratio of 3.01 and a beta of 1.90. The business’s 50 day simple moving average is $24.05 and its 200 day simple moving average is $25.10. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. Magnolia Oil & Gas has a one year low of $21.63 and a one year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The company had revenue of $326.61 million for the quarter, compared to analyst estimates 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, research analysts forecast that Magnolia Oil & Gas will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.37%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 14th. Magnolia Oil & Gas’s payout ratio is currently 31.09%.

Insider Activity

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros acquired 2,500 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were acquired at an average price 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 approximately $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Magnolia Oil & Gas

Institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP lifted its position in shares of Magnolia Oil & Gas by 24.6% during the 4th quarter. First Trust Advisors LP now owns 15,410,496 shares of the company’s stock valued at $360,297,000 after buying an additional 3,038,709 shares during the last quarter. Soros Fund Management LLC purchased a new stake in shares of Magnolia Oil & Gas in the third quarter worth $18,120,000. Janus Henderson Group PLC boosted its stake in Magnolia Oil & Gas by 11.7% during the fourth quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company’s stock valued at $149,559,000 after buying an additional 667,973 shares during the period. Barclays PLC grew its position in Magnolia Oil & Gas by 62.5% during the third quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock worth $40,383,000 after buying an additional 636,049 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Magnolia Oil & Gas in the 4th quarter valued at about $13,634,000. Institutional investors 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.