Magnolia Oil & Gas (NYSE:MGY) Downgraded to “Hold” Rating by Siebert Williams Shank

Siebert Williams Shank cut shares of Magnolia Oil & Gas (NYSE:MGY) from a buy rating to a hold rating in a research report released on Friday morning, MarketBeat.com reports.

Several other equities research analysts have also issued reports on the stock. Roth Mkm reissued a “buy” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, February 10th. The Goldman Sachs Group upped their price target on shares of Magnolia Oil & Gas from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 11th. Piper Sandler raised their price objective on Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday. Bank of America raised shares of Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $26.00 to $28.00 in a research note on Friday, January 16th. Finally, BMO Capital Markets assumed coverage on shares of Magnolia Oil & Gas in a report on Friday, January 9th. They issued an “outperform” rating and a $27.00 price objective on the stock. Eight research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.18.

Magnolia Oil & Gas Trading Up 0.2%

Magnolia Oil & Gas stock traded up $0.05 during midday trading on Friday, reaching $29.24. The stock had a trading volume of 2,853,842 shares, compared to its average volume of 3,230,319. The stock’s 50-day simple moving average is $25.04 and its 200 day simple moving average is $23.87. Magnolia Oil & Gas has a twelve month low of $19.09 and a twelve month high of $29.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.54 and a current ratio of 1.54. The stock has a market capitalization of $5.45 billion, a PE ratio of 17.00 and a beta of 0.89.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. The company had revenue of $317.63 million during the quarter, compared to analyst estimates of $322.18 million. Magnolia Oil & Gas had a return on equity of 16.67% and a net margin of 24.79%.The firm’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 earnings per share. Analysts expect that Magnolia Oil & Gas will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.3%. Magnolia Oil & Gas’s dividend payout ratio is 38.37%.

Institutional Trading of Magnolia Oil & Gas

Institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Magnolia Oil & Gas by 236.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company’s stock worth $27,000 after acquiring an additional 836 shares in the last quarter. Salomon & Ludwin LLC raised its stake in shares of Magnolia Oil & Gas by 130.1% in the 4th quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock valued at $29,000 after purchasing an additional 760 shares in the last quarter. Mather Group LLC. bought a new position in shares of Magnolia Oil & Gas during the third quarter worth about $31,000. EverSource Wealth Advisors LLC lifted its position in shares of Magnolia Oil & Gas by 165.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock worth $31,000 after purchasing an additional 864 shares during the last quarter. Finally, Torren Management LLC bought a new position in Magnolia Oil & Gas during the 4th quarter worth approximately $38,000. 94.73% of the stock is owned by institutional investors and hedge funds.

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).