Magnolia Oil & Gas Co. (NYSE:MGY) Receives $27.58 Consensus Target Price from Analysts

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have received a consensus rating of “Hold” from the thirteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $27.58.

Several equities analysts recently issued reports on MGY shares. Wells Fargo & Company downgraded shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $26.00 to $22.00 in a report on Tuesday, October 1st. Mizuho lifted 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. Truist Financial increased their price target on Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Finally, Piper Sandler reduced their price objective on Magnolia Oil & Gas from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th.

Magnolia Oil & Gas Stock Up 2.6 %

Shares of MGY stock opened at $24.90 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a fifty day moving average price of $25.64 and a 200 day moving average price of $25.49. Magnolia Oil & Gas has a one year low of $19.16 and a one year high of $29.02. The stock has a market cap of $4.89 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 1.29 and a beta of 2.00.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. The firm had revenue of $333.14 million during the quarter, compared to analysts’ expectations of $331.45 million. Analysts predict that Magnolia Oil & Gas will post 2 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were given a $0.13 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 2.09%. Magnolia Oil & Gas’s payout ratio is 25.74%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. FMR LLC increased its holdings in Magnolia Oil & Gas by 174.9% in the third quarter. FMR LLC now owns 34,851 shares of the company’s stock valued at $851,000 after purchasing an additional 22,171 shares during the last quarter. Oliver Luxxe Assets LLC increased its stake in shares of Magnolia Oil & Gas by 80.6% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company’s stock valued at $2,140,000 after acquiring an additional 39,098 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of Magnolia Oil & Gas in the 3rd quarter valued at about $353,000. Ensign Peak Advisors Inc raised its position in shares of Magnolia Oil & Gas by 5.6% in the 2nd quarter. Ensign Peak Advisors Inc now owns 68,919 shares of the company’s stock valued at $1,746,000 after acquiring an additional 3,630 shares during the period. Finally, Intech Investment Management LLC bought a new position in Magnolia Oil & Gas during the 3rd quarter worth approximately $1,252,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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.