UBS Group Issues Positive Forecast for Magnolia Oil & Gas (NYSE:MGY) Stock Price

Magnolia Oil & Gas (NYSE:MGY) had its price objective boosted by UBS Group from $29.00 to $35.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also recently commented on MGY. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Wednesday, January 21st. Citigroup lifted their price objective on shares of Magnolia Oil & Gas from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Zacks Research raised shares of Magnolia Oil & Gas from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. Mizuho set a $30.00 target price on Magnolia Oil & Gas in a research note on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magnolia Oil & Gas in a research report on Thursday, January 22nd. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.18.

Magnolia Oil & Gas Stock Up 2.2%

Shares of Magnolia Oil & Gas stock opened at $29.24 on Thursday. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.20. The company has a market cap of $5.45 billion, a P/E ratio of 17.00 and a beta of 0.89. The firm’s 50 day moving average price is $24.89 and its 200-day moving average price is $23.83. Magnolia Oil & Gas has a 52-week low of $19.09 and a 52-week high of $29.37.

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

Magnolia Oil & Gas Increases Dividend

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

Institutional Investors Weigh In On Magnolia Oil & Gas

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Magnolia Oil & Gas by 236.2% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company’s stock valued at $27,000 after purchasing an additional 836 shares in the last quarter. Salomon & Ludwin LLC raised its position in shares of Magnolia Oil & Gas by 130.1% during the 4th 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 last quarter. Mather Group LLC. purchased a new position in Magnolia Oil & Gas in the 3rd quarter valued at about $31,000. EverSource Wealth Advisors LLC boosted its holdings in Magnolia Oil & Gas by 165.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock worth $31,000 after buying an additional 864 shares during the last quarter. Finally, Torren Management LLC purchased a new stake in Magnolia Oil & Gas during the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

About Magnolia Oil & Gas

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).