Magnolia Oil & Gas Corp (NYSE:MGY) Receives Average Recommendation of “Hold” from Brokerages

Magnolia Oil & Gas Corp (NYSE:MGY) has received an average recommendation of “Hold” from the seventeen ratings firms that are presently covering the stock, MarketBeat.com reports. Nine analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $31.0833.

MGY has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their target price on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 13th. Mizuho upped their price target on shares of Magnolia Oil & Gas from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Zacks Research cut shares of Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. UBS Group decreased their price objective on shares of Magnolia Oil & Gas from $38.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Roth Capital upgraded shares of Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Monday, June 22nd.

Hedge Funds Weigh In On Magnolia Oil & Gas

Large investors have recently made changes to their positions in the business. Salomon & Ludwin LLC boosted its stake in shares of Magnolia Oil & Gas by 130.1% in the fourth quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock worth $29,000 after acquiring an additional 760 shares during the period. Valued Wealth Advisors LLC bought a new stake in Magnolia Oil & Gas during the 1st quarter valued at approximately $29,000. EverSource Wealth Advisors LLC raised its stake in Magnolia Oil & Gas by 165.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after purchasing an additional 864 shares during the period. Torren Management LLC purchased a new position in Magnolia Oil & Gas in the 4th quarter worth approximately $38,000. Finally, Harbor Investment Advisory LLC purchased a new position in Magnolia Oil & Gas in the 2nd quarter worth approximately $39,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Stock Down 0.1%

NYSE MGY opened at $25.78 on Monday. The stock’s 50-day moving average price is $27.59 and its 200-day moving average price is $27.16. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.19. Magnolia Oil & Gas has a 52 week low of $21.07 and a 52 week high of $32.76. The company has a market capitalization of $4.77 billion, a P/E ratio of 14.99 and a beta of 0.70.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The firm had revenue of $358.51 million for the quarter, compared to analysts’ expectations of $349.89 million. Magnolia Oil & Gas had a return on equity of 16.28% and a net margin of 24.40%.The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 EPS. On average, equities research analysts predict that Magnolia Oil & Gas will post 2.75 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Tuesday, May 12th. Magnolia Oil & Gas’s dividend payout ratio is presently 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).