Magnolia Oil & Gas (NYSE:MGY) Given New $28.00 Price Target at Mizuho

Magnolia Oil & Gas (NYSE:MGY) had its target price raised by Mizuho from $27.00 to $28.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other brokerages have also issued reports on MGY. Truist Financial raised their target price on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Susquehanna reduced their price objective on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. JPMorgan Chase & Co. reduced their price objective on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Wells Fargo & Company lowered shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $26.00 to $22.00 in a research note on Tuesday, October 1st. Finally, Siebert Williams Shank lowered shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research note on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $27.75.

Magnolia Oil & Gas Trading Down 2.9 %

Shares of MGY stock opened at $24.60 on Monday. Magnolia Oil & Gas has a 52-week low of $19.16 and a 52-week high of $29.02. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 1.29 and a beta of 1.99. 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 firm has a fifty day moving average of $26.60 and a 200-day moving average of $25.65.

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 company had revenue of $333.14 million during the quarter, compared to analysts’ expectations of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. On average, equities research analysts forecast that Magnolia Oil & Gas will post 2 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 2.11%. Magnolia Oil & Gas’s payout ratio is 25.74%.

Insider Buying and Selling

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the completion of the transaction, the director now directly owns 2,099,403 shares of the company’s stock, valued at $54,290,561.58. The trade was a 76.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Magnolia Oil & Gas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. boosted its position in Magnolia Oil & Gas by 64.7% during the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after purchasing an additional 396 shares during the period. Jennison Associates LLC boosted its position in Magnolia Oil & Gas by 2.2% during the third quarter. Jennison Associates LLC now owns 23,836 shares of the company’s stock worth $582,000 after purchasing an additional 506 shares during the period. Atria Investments Inc boosted its position in Magnolia Oil & Gas by 2.3% during the third quarter. Atria Investments Inc now owns 23,576 shares of the company’s stock worth $576,000 after purchasing an additional 523 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Magnolia Oil & Gas by 1.0% in the third quarter. PNC Financial Services Group Inc. now owns 52,834 shares of the company’s stock valued at $1,290,000 after acquiring an additional 548 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of Magnolia Oil & Gas by 1.8% in the second quarter. Bank of Montreal Can now owns 36,716 shares of the company’s stock valued at $931,000 after acquiring an additional 640 shares during the period. 94.73% of the stock is owned by institutional investors.

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.