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

Magnolia Oil & Gas Co. (NYSE:MGY) has earned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $26.29.

A number of brokerages have recently issued reports on MGY. Truist Financial raised their price target on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a “buy” rating in a report on Friday, February 16th. Piper Sandler lowered their price objective on shares of Magnolia Oil & Gas from $30.00 to $29.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 24th. Citigroup increased their price objective on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a “sell” rating in a research note on Monday. Bank of America initiated coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, February 27th. They issued a “buy” rating and a $25.00 price objective on the stock. Finally, The Goldman Sachs Group increased their price objective on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, March 26th.

Magnolia Oil & Gas Stock Performance

Shares of NYSE MGY opened at $26.19 on Tuesday. The firm’s 50-day moving average price is $23.74 and its 200-day moving average price is $22.29. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.21. The company has a market cap of $5.35 billion, a PE ratio of 12.78, a PEG ratio of 1.68 and a beta of 2.05. Magnolia Oil & Gas has a 52-week low of $18.72 and a 52-week high of $27.33.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The company had revenue of $322.63 million for the quarter, compared to analysts’ expectations of $324.95 million. Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. As a group, analysts anticipate that Magnolia Oil & Gas will post 2.03 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were paid a dividend of $0.13 per share. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.52 dividend on an annualized basis and a yield of 1.99%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 25.37%.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGY. Mather Group LLC. bought a new stake in Magnolia Oil & Gas during the 1st quarter worth approximately $27,000. Private Wealth Management Group LLC bought a new stake in shares of Magnolia Oil & Gas during the fourth quarter valued at approximately $33,000. VisionPoint Advisory Group LLC raised its position in shares of Magnolia Oil & Gas by 112.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock valued at $35,000 after buying an additional 813 shares during the last quarter. State of Wyoming raised its position in shares of Magnolia Oil & Gas by 38.8% during the second quarter. State of Wyoming now owns 2,552 shares of the company’s stock valued at $53,000 after buying an additional 713 shares during the last quarter. Finally, KBC Group NV bought a new stake in shares of Magnolia Oil & Gas during the fourth quarter valued at approximately $57,000. 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.