Brokerages Set Magnolia Oil & Gas Co. (NYSE:MGY) PT at $28.11

Magnolia Oil & Gas Co. (NYSE:MGY) has received a consensus rating of “Hold” from the ten brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $28.11.

A number of equities analysts have commented on MGY shares. Capital One Financial started coverage on Magnolia Oil & Gas in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $28.00 price target on the stock. The Goldman Sachs Group boosted their target price on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Susquehanna boosted their target price on Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Wells Fargo & Company boosted their target price on Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Finally, Piper Sandler reissued a “neutral” rating and set a $29.00 target price on shares of Magnolia Oil & Gas in a research note on Friday, April 19th.

Magnolia Oil & Gas Stock Performance

Shares of NYSE MGY opened at $25.34 on Friday. The stock has a market cap of $5.14 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 1.39 and a beta of 2.00. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas has a 1-year low of $19.16 and a 1-year high of $27.33. The stock’s 50-day moving average is $25.25 and its 200 day moving average is $23.46.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. The business had revenue of $319.42 million for the quarter, compared to analysts’ expectations of $308.21 million. Magnolia Oil & Gas had a return on equity of 20.41% and a net margin of 30.46%. On average, sell-side analysts anticipate that Magnolia Oil & Gas will post 2.25 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were given a dividend of $0.13 per share. The ex-dividend date was Friday, May 10th. This represents a $0.52 annualized dividend and a dividend yield of 2.05%. Magnolia Oil & Gas’s dividend payout ratio is presently 25.87%.

Insider Activity at Magnolia Oil & Gas

In related news, Director John B. Walker sold 12,000,000 shares of Magnolia Oil & Gas stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $25.58, for a total transaction of $306,960,000.00. Following the sale, the director now directly owns 4,164,961 shares in the company, valued at $106,539,702.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several hedge funds have recently added to or reduced their stakes in MGY. Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 2,956,314 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Magnolia Oil & Gas by 2,799.2% in the first quarter. Principal Financial Group Inc. now owns 1,881,039 shares of the company’s stock worth $48,813,000 after acquiring an additional 1,816,158 shares in the last quarter. First Trust Advisors LP boosted its holdings in Magnolia Oil & Gas by 20.2% in the fourth quarter. First Trust Advisors LP now owns 10,126,891 shares of the company’s stock worth $215,602,000 after acquiring an additional 1,704,982 shares in the last quarter. American Century Companies Inc. boosted its holdings in Magnolia Oil & Gas by 24.7% in the third quarter. American Century Companies Inc. now owns 6,009,953 shares of the company’s stock worth $137,688,000 after acquiring an additional 1,188,536 shares in the last quarter. Finally, Ranger Investment Management L.P. bought a new position in shares of Magnolia Oil & Gas during the fourth quarter valued at $25,226,000. 94.73% of the stock is owned by institutional investors.

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.