Magnolia Oil & Gas Co. (NYSE:MGY) Given Average Recommendation of “Hold” by Brokerages

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have been assigned a consensus recommendation of “Hold” from the fourteen ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $27.77.

A number of equities analysts have commented on the stock. Mizuho boosted their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. JPMorgan Chase & Co. reduced their price objective on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. 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. Truist Financial lifted their price target on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Williams Trading set a $29.00 price objective on Magnolia Oil & Gas in a report on Wednesday, March 5th.

Insider Buying and Selling

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the transaction, the chief executive officer now directly owns 892,372 shares of the company’s stock, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Magnolia Oil & Gas

A number of institutional investors have recently modified their holdings of MGY. FMR LLC grew its holdings in Magnolia Oil & Gas by 174.9% during the third quarter. FMR LLC now owns 34,851 shares of the company’s stock worth $851,000 after acquiring an additional 22,171 shares during the period. HighTower Advisors LLC purchased a new stake in Magnolia Oil & Gas in the 3rd quarter worth approximately $353,000. Charles Schwab Investment Management Inc. grew its stake in shares of Magnolia Oil & Gas by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,076,541 shares of the company’s stock worth $48,550,000 after purchasing an additional 85,524 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Magnolia Oil & Gas during the 3rd quarter worth approximately $1,252,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Magnolia Oil & Gas during the 4th quarter valued at approximately $590,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $25.16 on Tuesday. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 3.01 and a beta of 1.90. Magnolia Oil & Gas has a 52-week low of $21.63 and a 52-week high of $29.02. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The company’s 50 day moving average is $24.15 and its 200 day moving average is $25.03.

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

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.39%. Magnolia Oil & Gas’s dividend payout ratio is currently 31.09%.

About Magnolia Oil & Gas

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.