Magnolia Oil & Gas Co. (NYSE:MGY) Receives $27.58 Average PT from Brokerages

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have received an average recommendation of “Hold” from the fourteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $27.58.

Several equities research analysts have recently weighed in on the company. Bank of America reissued a “neutral” rating and set a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Piper Sandler boosted their price objective on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Truist Financial increased their target price on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, January 13th. The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and cut their price target for the stock from $27.00 to $26.00 in a research note on Friday, January 31st. Finally, Johnson Rice downgraded shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Magnolia Oil & Gas by 6.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,364 shares of the company’s stock valued at $351,000 after acquiring an additional 889 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Magnolia Oil & Gas by 1.1% in the third quarter. State of Alaska Department of Revenue now owns 107,375 shares of the company’s stock worth $2,622,000 after purchasing an additional 1,147 shares during the period. Nisa Investment Advisors LLC boosted its stake in Magnolia Oil & Gas by 43.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 4,094 shares of the company’s stock valued at $100,000 after purchasing an additional 1,244 shares in the last quarter. New York State Teachers Retirement System increased its position in shares of Magnolia Oil & Gas by 41.5% during the 3rd quarter. New York State Teachers Retirement System now owns 64,537 shares of the company’s stock valued at $1,576,000 after purchasing an additional 18,937 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Magnolia Oil & Gas during the 3rd quarter valued at $25,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Up 1.5 %

Shares of MGY opened at $22.60 on Friday. The company’s 50-day moving average price is $24.19 and its 200 day moving average price is $25.18. Magnolia Oil & Gas has a 12-month low of $21.63 and a 12-month high of $29.02. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The firm has a market cap of $4.39 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The company had revenue of $326.61 million during the quarter, compared to the consensus estimate of $327.40 million. On average, sell-side analysts forecast that Magnolia Oil & Gas will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.15 dividend. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Friday, February 14th. Magnolia Oil & Gas’s payout ratio is presently 31.09%.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.