Susquehanna Trims Magnolia Oil & Gas (NYSE:MGY) Target Price to $32.00

Magnolia Oil & Gas (NYSE:MGY) had its price objective trimmed by Susquehanna from $33.00 to $32.00 in a research report released on Wednesday, Benzinga reports. The firm currently has a positive rating on the stock.

MGY has been the subject of a number of other research reports. Truist Financial upped their target price on Magnolia Oil & Gas from $34.00 to $35.00 and gave the stock a buy rating in a report on Friday, August 2nd. Capital One Financial began coverage on Magnolia Oil & Gas in a report on Tuesday, June 11th. They issued an overweight rating and a $28.00 target price for the company. Wells Fargo & Company lowered their target price on Magnolia Oil & Gas from $27.00 to $26.00 and set an equal weight rating for the company in a report on Monday, August 5th. Wolfe Research initiated coverage on Magnolia Oil & Gas in a report on Thursday, July 18th. They issued an outperform rating and a $32.00 target price for the company. Finally, Mizuho increased their price target on Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a neutral rating in a research note on Monday, May 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and a consensus target price of $28.60.

Magnolia Oil & Gas Price Performance

Shares of MGY stock opened at $23.57 on Wednesday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas has a twelve month low of $19.16 and a twelve month high of $27.63. The company has a market cap of $4.69 billion, a P/E ratio of 11.72, a P/E/G ratio of 1.15 and a beta of 2.00. The business has a fifty day simple moving average of $25.47 and a 200 day simple moving average of $25.09.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. The business had revenue of $336.73 million during the quarter, compared to analysts’ expectations of $340.72 million. On average, sell-side analysts forecast that Magnolia Oil & Gas will post 2.13 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.52 annualized dividend and a yield of 2.21%. Magnolia Oil & Gas’s dividend payout ratio is currently 25.87%.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several large investors have recently added to or reduced their stakes in MGY. Vanguard Group Inc. grew its stake in Magnolia Oil & Gas by 16.6% during the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock worth $538,654,000 after purchasing an additional 2,956,314 shares during the period. Principal Financial Group Inc. grew its stake in Magnolia Oil & Gas by 2,799.2% during the first quarter. Principal Financial Group Inc. now owns 1,881,039 shares of the company’s stock worth $48,813,000 after purchasing an additional 1,816,158 shares during the period. First Trust Advisors LP boosted its holdings in Magnolia Oil & Gas by 20.2% in the fourth quarter. First Trust Advisors LP now owns 10,126,891 shares of the company’s stock worth $215,602,000 after acquiring an additional 1,704,982 shares in the last quarter. Ranger Investment Management L.P. bought a new position in Magnolia Oil & Gas in the fourth quarter worth approximately $25,226,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in Magnolia Oil & Gas in the first quarter worth approximately $30,161,000. Institutional investors and hedge funds 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.