Magnolia Oil & Gas (NYSE:MGY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Magnolia Oil & Gas (NYSE:MGY) from a hold rating to a buy rating in a research report released on Saturday morning.

A number of other equities research analysts also recently weighed in on the company. Susquehanna lifted their target price on Magnolia Oil & Gas from $35.00 to $36.00 and gave the stock a “positive” rating in a report on Tuesday, July 21st. Mizuho upgraded shares of Magnolia Oil & Gas to a “strong-buy” rating in a research note on Friday, July 31st. Weiss Ratings lowered shares of Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Roth Capital dropped their price objective on shares of Magnolia Oil & Gas from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Finally, Citigroup cut their price objective on shares of Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Magnolia Oil & Gas currently has an average rating of “Moderate Buy” and an average price target of $31.50.

Magnolia Oil & Gas Price Performance

Shares of NYSE MGY opened at $26.04 on Friday. The firm has a market cap of $4.82 billion, a P/E ratio of 11.42 and a beta of 0.72. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.18. Magnolia Oil & Gas has a 1-year low of $21.07 and a 1-year high of $32.76. The business’s 50 day moving average is $26.15 and its 200-day moving average is $27.65.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.06. The business had revenue of $478.81 million during the quarter, compared to analysts’ expectations of $458.10 million. Magnolia Oil & Gas had a return on equity of 21.04% and a net margin of 28.77%.The firm’s revenue for the quarter was up 50.1% compared to the same quarter last year. During the same period last year, the firm posted $0.41 EPS. Equities research analysts predict that Magnolia Oil & Gas will post 2.81 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 10th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.8%. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Monday, August 10th. Magnolia Oil & Gas’s payout ratio is 28.95%.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC increased 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 during the last quarter. Valued Wealth Advisors LLC acquired a new stake in Magnolia Oil & Gas in the first quarter valued at about $29,000. EverSource Wealth Advisors LLC grew its position in Magnolia Oil & Gas by 165.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after acquiring an additional 864 shares during the last quarter. Torren Management LLC bought a new position in Magnolia Oil & Gas in the fourth quarter valued at about $38,000. Finally, Harbor Investment Advisory LLC acquired a new position in Magnolia Oil & Gas during the second quarter worth about $39,000. 94.73% of the stock is currently owned by institutional investors.

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).