Magnolia Oil & Gas Co. (NYSE:MGY) Receives Average Rating of “Hold” from Analysts

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have received an average recommendation of “Hold” from the thirteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $27.67.

Several equities research analysts have issued reports on MGY shares. Bank of America lifted their price target on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Truist Financial lifted their price target 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. Wells Fargo & Company lowered shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $26.00 to $22.00 in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lowered their price target 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.

Magnolia Oil & Gas Trading Down 0.6 %

Shares of NYSE:MGY opened at $27.29 on Wednesday. Magnolia Oil & Gas has a 12 month low of $19.16 and a 12 month high of $27.96. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. The company’s fifty day simple moving average is $25.77 and its 200 day simple moving average is $25.45. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 1.37 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data 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 business had revenue of $333.14 million for the quarter, compared to analyst estimates of $331.45 million. As a group, research analysts forecast that Magnolia Oil & Gas will post 1.99 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Friday, November 8th. 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 the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $25.86, for a total value of $181,020,000.00. Following the completion of the sale, the director now 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.40% of the stock is currently owned by insiders.

Institutional Trading of Magnolia Oil & Gas

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Magnolia Oil & Gas by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock valued at $538,654,000 after purchasing an additional 2,956,314 shares during the period. State Street Corp boosted its holdings in Magnolia Oil & Gas by 4.2% in the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company’s stock valued at $261,300,000 after purchasing an additional 435,326 shares during the period. American Century Companies Inc. boosted its holdings in Magnolia Oil & Gas by 9.9% in the 2nd quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock valued at $237,927,000 after purchasing an additional 847,542 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Magnolia Oil & Gas by 16.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock valued at $114,554,000 after purchasing an additional 627,933 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Magnolia Oil & Gas by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,107,769 shares of the company’s stock valued at $100,332,000 after purchasing an additional 116,431 shares during the period. Institutional investors own 94.73% of the company’s stock.

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.