Magnolia Oil & Gas Co. (NYSE:MGY) Receives Average Recommendation of “Hold” from Brokerages

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have received a consensus rating of “Hold” from the thirteen brokerages that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $27.58.

Several research firms recently weighed in on MGY. Mizuho raised 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 note on Monday, December 16th. Piper Sandler cut their price objective on Magnolia Oil & Gas from $26.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Siebert Williams Shank lowered 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. Finally, Bank of America reaffirmed a “neutral” rating and issued a $28.00 price objective (down previously from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday.

Institutional Trading of Magnolia Oil & Gas

Institutional investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. bought a new position in Magnolia Oil & Gas during the third quarter valued at $25,000. First Horizon Advisors Inc. grew its holdings in Magnolia Oil & Gas by 64.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock valued at $25,000 after purchasing an additional 396 shares during the last quarter. GAMMA Investing LLC raised its position in Magnolia Oil & Gas by 62.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,609 shares of the company’s stock worth $64,000 after purchasing an additional 1,002 shares during the period. Covestor Ltd grew its stake in shares of Magnolia Oil & Gas by 36.8% during the third 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 last quarter. Finally, Truvestments Capital LLC purchased a new stake in shares of Magnolia Oil & Gas in the third quarter worth approximately $90,000. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Stock Up 2.8 %

MGY opened at $26.53 on Thursday. Magnolia Oil & Gas has a fifty-two week low of $19.16 and a fifty-two week high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market cap of $5.21 billion, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 1.25 and a beta of 2.00. The firm’s fifty day moving average is $25.63 and its 200 day moving average is $25.51.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $333.14 million during the quarter, compared to analyst estimates of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. On average, sell-side analysts forecast that Magnolia Oil & Gas will post 2 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend was Friday, November 8th. Magnolia Oil & Gas’s dividend payout ratio is currently 25.74%.

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.