Magnolia Oil & Gas (NYSE:MGY) Lowered to “Hold” at Siebert Williams Shank

Siebert Williams Shank downgraded shares of Magnolia Oil & Gas (NYSE:MGY) from a buy rating to a hold rating in a research report report published on Tuesday, Marketbeat reports. They currently have $30.00 price objective on the stock.

Several other brokerages have also issued reports on MGY. Susquehanna cut their target price on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a positive rating for the company in a research report on Wednesday, September 4th. JPMorgan Chase & Co. cut their price objective on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a neutral rating for the company in a research report on Thursday, September 12th. Wolfe Research started coverage on Magnolia Oil & Gas in a research note on Thursday, July 18th. They issued an outperform rating and a $32.00 price objective for the company. Truist Financial lowered their target price on Magnolia Oil & Gas from $35.00 to $31.00 and set a buy rating on the stock in a research report on Monday, September 30th. Finally, Mizuho reduced their price target on Magnolia Oil & Gas from $28.00 to $27.00 and set a neutral rating for the company in a research report on Monday, September 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $27.50.

Magnolia Oil & Gas Stock Performance

MGY stock opened at $25.56 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28. Magnolia Oil & Gas has a 1 year low of $19.16 and a 1 year high of $27.63. The company has a market cap of $5.18 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 1.35 and a beta of 1.99. The stock’s fifty day moving average price is $25.05 and its 200-day moving average price is $25.42.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The company had revenue of $336.73 million for the quarter, compared to the consensus estimate of $340.72 million. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. On average, equities analysts forecast that Magnolia Oil & Gas will post 1.99 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.13 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.52 dividend on an annualized basis and a yield of 2.03%. Magnolia Oil & Gas’s dividend payout ratio is presently 25.87%.

Insiders Place Their Bets

In other news, Director Ltd. Enervest sold 7,000,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $25.86, for a total value of $181,020,000.00. Following the transaction, the director now owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Magnolia Oil & Gas

Several hedge funds have recently bought and sold shares of MGY. Vanguard Group Inc. increased its holdings in shares of Magnolia Oil & Gas by 16.6% in the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock worth $538,654,000 after purchasing an additional 2,956,314 shares during the last quarter. American Century Companies Inc. grew its holdings in Magnolia Oil & Gas by 9.9% during the 2nd quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock valued at $237,927,000 after buying an additional 847,542 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Magnolia Oil & Gas by 16.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock worth $114,554,000 after acquiring an additional 627,933 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Magnolia Oil & Gas by 4.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,184,107 shares of the company’s stock worth $82,628,000 after acquiring an additional 142,717 shares in the last quarter. Finally, Boston Trust Walden Corp boosted its position in shares of Magnolia Oil & Gas by 26.7% during the 2nd quarter. Boston Trust Walden Corp now owns 2,703,544 shares of the company’s stock valued at $68,508,000 after acquiring an additional 568,998 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.