Magnolia Oil & Gas Co. (NYSE:MGY) Receives $27.67 Consensus Target Price from Analysts

Magnolia Oil & Gas Co. (NYSE:MGY) has earned an average rating of “Hold” from the thirteen brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $27.58.

Several analysts have recently issued reports on MGY shares. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Wells Fargo & Company lowered Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $26.00 to $22.00 in a research note on Tuesday, October 1st. Siebert Williams Shank cut Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a report on Tuesday, October 15th. Mizuho lifted their price target on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, JPMorgan Chase & Co. dropped their price target on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th.

Insider Activity at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas stock in a transaction that occurred 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 sale, the director now owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. The trade was a 76.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Magnolia Oil & Gas

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. acquired a new position in shares of Magnolia Oil & Gas in the 3rd quarter valued at $25,000. First Horizon Advisors Inc. raised its holdings 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 buying an additional 396 shares during the period. GAMMA Investing LLC lifted its position in Magnolia Oil & Gas by 62.4% in the third quarter. GAMMA Investing LLC now owns 2,609 shares of the company’s stock valued at $64,000 after buying an additional 1,002 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Magnolia Oil & Gas by 61.9% during the second quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company’s stock worth $72,000 after buying an additional 1,090 shares during the period. Finally, Covestor Ltd increased its position in shares of Magnolia Oil & Gas by 36.8% during the third quarter. Covestor Ltd now owns 2,986 shares of the company’s stock valued at $73,000 after acquiring an additional 804 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Trading Down 1.5 %

Shares of Magnolia Oil & Gas stock opened at $24.24 on Friday. The firm has a 50-day simple moving average of $26.55 and a two-hundred day simple moving average of $25.65. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. Magnolia Oil & Gas has a fifty-two week low of $19.16 and a fifty-two week high of $29.02. The company has a market cap of $4.76 billion, a P/E ratio of 11.95, a price-to-earnings-growth ratio of 1.29 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, topping 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 return on equity of 20.78% and a net margin of 28.88%. As a group, equities analysts predict that Magnolia Oil & Gas will post 2 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were given a dividend of $0.13 per share. The ex-dividend date was Friday, November 8th. This represents a $0.52 annualized dividend and a dividend yield of 2.15%. Magnolia Oil & Gas’s payout ratio is 25.74%.

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.