Magnolia Oil & Gas Co. (NYSE:MGY) Receives $27.77 Consensus Price Target from Analysts

Magnolia Oil & Gas Co. (NYSE:MGY) has been assigned an average rating of “Hold” from the fourteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $27.77.

Several equities research analysts recently weighed in on MGY shares. Piper Sandler upped their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Bank of America reiterated a “neutral” rating and issued a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Mizuho boosted their target price on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Johnson Rice lowered Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, The Goldman Sachs Group downgraded Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $27.00 to $26.00 in a research report on Friday, January 31st.

Insider Activity at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros purchased 2,500 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were bought at an average price of $22.05 per share, with a total value of $55,125.00. Following the completion of the transaction, the chief executive officer now directly owns 892,372 shares in the company, valued at approximately $19,676,802.60. This represents a 0.28 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several large investors have recently modified their holdings of MGY. First Horizon Advisors Inc. raised its position in Magnolia Oil & Gas by 64.7% in 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. Larson Financial Group LLC increased its stake in Magnolia Oil & Gas by 112.3% in the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock valued at $25,000 after purchasing an additional 567 shares during the period. Mather Group LLC. raised its holdings in shares of Magnolia Oil & Gas by 100.0% in the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock valued at $25,000 after buying an additional 545 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Magnolia Oil & Gas during the fourth quarter worth about $43,000. Finally, Quarry LP boosted its stake in shares of Magnolia Oil & Gas by 1,047.8% during the fourth quarter. Quarry LP now owns 2,135 shares of the company’s stock worth $50,000 after buying an additional 1,949 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Magnolia Oil & Gas Trading Down 0.9 %

Shares of NYSE MGY opened at $25.37 on Tuesday. The stock has a fifty day simple moving average of $24.10 and a 200-day simple moving average of $25.05. Magnolia Oil & Gas has a twelve month low of $21.63 and a twelve month high of $29.02. 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 stock has a market capitalization of $4.93 billion, a PE ratio of 13.15, a PEG ratio of 3.01 and a beta of 1.90.

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

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a dividend of $0.15 per share. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend was Friday, February 14th. 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.