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

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have received a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $28.11.

Several research firms have commented on MGY. Mizuho upped their price objective on shares of Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Bank of America began coverage on shares of Magnolia Oil & Gas in a report on Tuesday, February 27th. They issued a “buy” rating and a $25.00 price objective on the stock. Wells Fargo & Company upped their price objective on shares of Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Piper Sandler reiterated a “neutral” rating and issued a $29.00 price objective on shares of Magnolia Oil & Gas in a report on Friday, April 19th. Finally, Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, April 23rd.

Magnolia Oil & Gas Price Performance

Shares of MGY opened at $24.88 on Friday. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.40 and a beta of 2.00. Magnolia Oil & Gas has a 1-year low of $19.16 and a 1-year high of $27.33. The company’s fifty day simple moving average is $25.28 and its 200 day simple moving average is $23.37. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.21.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.44 by $0.05. Magnolia Oil & Gas had a net margin of 30.46% and a return on equity of 20.41%. The firm had revenue of $319.42 million for the quarter, compared to the consensus estimate of $308.21 million. On average, research analysts forecast that Magnolia Oil & Gas will post 2.25 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.52 annualized dividend and a yield of 2.09%. Magnolia Oil & Gas’s dividend payout ratio is 25.87%.

Insider Buying and Selling

In related news, Director John B. Walker sold 12,000,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.58, for a total transaction of $306,960,000.00. Following the completion of the sale, the director now owns 4,164,961 shares of the company’s stock, valued at $106,539,702.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several institutional investors and hedge funds have recently bought and sold shares of MGY. Mather Group LLC. bought a new position in shares of Magnolia Oil & Gas in the first quarter worth about $27,000. Private Wealth Management Group LLC bought a new position in shares of Magnolia Oil & Gas in the fourth quarter worth about $33,000. VisionPoint Advisory Group LLC lifted its holdings in shares of Magnolia Oil & Gas by 112.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after acquiring an additional 813 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Magnolia Oil & Gas by 61.5% in the first quarter. Lindbrook Capital LLC now owns 1,647 shares of the company’s stock worth $43,000 after acquiring an additional 627 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in shares of Magnolia Oil & Gas in the first quarter worth about $50,000. Institutional investors 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.