Brokerages Set Magnolia Oil & Gas Corp (NYSE:MGY) PT at $26.67

Shares of Magnolia Oil & Gas Corp (NYSE:MGY) have earned an average recommendation of “Hold” from the sixteen ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $26.6667.

MGY has been the topic of several research reports. Piper Sandler reduced their price target on Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, November 18th. UBS Group reissued a “buy” rating and set a $29.00 target price on shares of Magnolia Oil & Gas in a report on Friday, January 9th. Zacks Research downgraded shares of Magnolia Oil & Gas from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. Bank of America raised shares of Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $26.00 to $28.00 in a research note on Friday, January 16th. Finally, Citigroup upgraded Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and increased their price objective for the company from $19.00 to $25.00 in a report on Wednesday, January 14th.

Institutional Trading of Magnolia Oil & Gas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGY. TD Asset Management Inc lifted its position in shares of Magnolia Oil & Gas by 55.7% in the 3rd quarter. TD Asset Management Inc now owns 4,478,361 shares of the company’s stock worth $106,898,000 after purchasing an additional 1,601,809 shares during the period. Epoch Investment Partners Inc. boosted its position in Magnolia Oil & Gas by 58.7% during the third quarter. Epoch Investment Partners Inc. now owns 4,138,626 shares of the company’s stock valued at $98,789,000 after acquiring an additional 1,531,061 shares during the last quarter. American Century Companies Inc. grew its holdings in Magnolia Oil & Gas by 12.9% during the 2nd quarter. American Century Companies Inc. now owns 11,861,231 shares of the company’s stock worth $266,641,000 after acquiring an additional 1,358,878 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Magnolia Oil & Gas by 192.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,401,279 shares of the company’s stock worth $33,449,000 after acquiring an additional 921,970 shares in the last quarter. Finally, Boston Trust Walden Corp raised its position in shares of Magnolia Oil & Gas by 26.0% in the 2nd quarter. Boston Trust Walden Corp now owns 4,003,770 shares of the company’s stock worth $90,005,000 after acquiring an additional 825,162 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

NYSE MGY opened at $24.11 on Monday. The firm’s fifty day moving average price is $22.53 and its two-hundred day moving average price is $23.21. The stock has a market cap of $4.55 billion, a PE ratio of 13.47, a PEG ratio of 3.88 and a beta of 0.92. 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 $19.09 and a fifty-two week high of $26.24.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.41 earnings per share for the quarter, meeting the consensus estimate of $0.41. Magnolia Oil & Gas had a return on equity of 18.10% and a net margin of 25.90%.The company had revenue of $324.94 million for the quarter, compared to the consensus estimate of $322.52 million. During the same quarter last year, the business posted $0.52 EPS. Magnolia Oil & Gas’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, equities analysts expect that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 10th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, November 10th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 33.52%.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).