Brokerages Set Magnolia Oil & Gas Corp (NYSE:MGY) Target Price at $30.55

Magnolia Oil & Gas Corp (NYSE:MGY) has received an average rating of “Moderate Buy” from the seventeen brokerages that are covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $30.5455.

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Magnolia Oil & Gas from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, February 11th. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a report on Wednesday, January 21st. Piper Sandler upped their price objective on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Mizuho set a $30.00 price objective on shares of Magnolia Oil & Gas in a report on Friday, February 6th. Finally, Truist Financial assumed coverage on shares of Magnolia Oil & Gas in a report on Tuesday, March 24th. They set a “hold” rating and a $33.00 price objective on the stock.

Insider Activity

In related news, CEO Christopher G. Stavros sold 119,954 shares of Magnolia Oil & Gas stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $29.29, for a total transaction of $3,513,452.66. Following the completion of the sale, the chief executive officer owned 883,592 shares of the company’s stock, valued at $25,880,409.68. The trade was a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brian Corales sold 33,000 shares of Magnolia Oil & Gas stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $29.12, for a total value of $960,960.00. Following the sale, the chief financial officer directly owned 184,178 shares of the company’s stock, valued at $5,363,263.36. This trade represents a 15.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 338,954 shares of company stock valued at $9,911,733. 1.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Magnolia Oil & Gas

Institutional investors and hedge funds have recently modified their holdings of the company. Mather Group LLC. acquired a new stake in shares of Magnolia Oil & Gas during the third quarter worth about $31,000. Salomon & Ludwin LLC lifted its holdings in shares of Magnolia Oil & Gas by 130.1% during the fourth quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock worth $29,000 after purchasing an additional 760 shares during the period. EverSource Wealth Advisors LLC lifted its holdings 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 period. Torren Management LLC acquired a new stake in shares of Magnolia Oil & Gas during the fourth quarter worth about $38,000. Finally, Parallel Advisors LLC lifted its holdings in shares of Magnolia Oil & Gas by 79.8% during the fourth quarter. Parallel Advisors LLC now owns 1,769 shares of the company’s stock worth $39,000 after purchasing an additional 785 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

MGY stock opened at $31.03 on Friday. 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 firm has a market cap of $5.78 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 2.18 and a beta of 0.83. The firm has a 50-day simple moving average of $28.39 and a two-hundred day simple moving average of $24.81. Magnolia Oil & Gas has a one year low of $19.09 and a one year high of $32.76.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. The firm had revenue of $317.63 million for the quarter, compared to the consensus estimate of $322.18 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities analysts forecast that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 2.1%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, February 10th. Magnolia Oil & Gas’s dividend payout ratio is currently 38.37%.

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).