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

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have been given a consensus recommendation of “Hold” by the fourteen ratings firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $27.58.

MGY has been the subject of a number of recent analyst reports. Johnson Rice cut shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Bank of America restated a “neutral” rating and set a $28.00 target price (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Mizuho boosted their price objective 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 raised their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, Truist Financial upped their target price on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, January 13th.

Institutional Trading of Magnolia Oil & Gas

Large investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new stake in Magnolia Oil & Gas during the third quarter worth about $25,000. First Horizon Advisors Inc. grew its holdings in shares of 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 last quarter. Mather Group LLC. increased its position in Magnolia Oil & Gas by 100.0% in the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock valued at $25,000 after acquiring an additional 545 shares in the last quarter. Larson Financial Group LLC boosted its position in Magnolia Oil & Gas by 112.3% in the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock valued at $25,000 after buying an additional 567 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in Magnolia Oil & Gas in the fourth quarter worth about $43,000. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $23.52 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The company has a market cap of $4.62 billion, a PE ratio of 12.18, a PEG ratio of 3.01 and a beta of 1.98. The business’s fifty day simple moving average is $24.19 and its 200-day simple moving average is $25.22. Magnolia Oil & Gas has a 12-month low of $22.04 and a 12-month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The business had revenue of $326.61 million during the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. Analysts expect that Magnolia Oil & Gas will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.55%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 31.09%.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.