Magnolia Oil & Gas’ (MGY) Hold Rating Reaffirmed at Benchmark

Benchmark reaffirmed their hold rating on shares of Magnolia Oil & Gas (NYSE:MGY) in a research report sent to investors on Tuesday morning, Benzinga reports.

Other research analysts have also recently issued reports about the company. Bank of America boosted their price target on Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a buy rating in a report on Tuesday, July 23rd. Wells Fargo & Company cut Magnolia Oil & Gas from an equal weight rating to an underweight rating and lowered their price target for the stock from $26.00 to $22.00 in a report on Tuesday, October 1st. Truist Financial lowered their price target on Magnolia Oil & Gas from $35.00 to $31.00 and set a buy rating on the stock in a report on Monday, September 30th. Siebert Williams Shank cut Magnolia Oil & Gas from a buy rating to a hold rating and set a $30.00 price target on the stock. in a report on Tuesday. Finally, Wolfe Research initiated coverage on Magnolia Oil & Gas in a report on Thursday, July 18th. They issued an outperform rating and a $32.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $27.50.

Magnolia Oil & Gas Trading Down 4.4 %

Shares of NYSE:MGY opened at $25.56 on Tuesday. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 1.35 and a beta of 1.99. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.28 and a current ratio of 1.28. The stock’s 50-day simple moving average is $25.05 and its two-hundred day simple moving average is $25.42. Magnolia Oil & Gas has a 52-week low of $19.16 and a 52-week high of $27.63.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.51 by $0.05. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. The firm had revenue of $336.73 million for the quarter, compared to the consensus estimate of $340.72 million. Analysts expect that Magnolia Oil & Gas will post 1.99 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

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

Insider Activity

In related news, Director Ltd. Enervest sold 7,000,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the sale, the director now directly owns 2,099,403 shares of the company’s stock, valued at $54,290,561.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Magnolia Oil & Gas

Several hedge funds and other institutional investors have recently bought and sold shares of MGY. Goldman Sachs Group Inc. grew its holdings in Magnolia Oil & Gas by 15.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 790,363 shares of the company’s stock worth $16,827,000 after acquiring an additional 103,183 shares during the period. PNC Financial Services Group Inc. grew its holdings in Magnolia Oil & Gas by 33.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 53,570 shares of the company’s stock valued at $1,141,000 after purchasing an additional 13,288 shares during the period. Mather Group LLC. acquired a new stake in Magnolia Oil & Gas in the first quarter valued at approximately $27,000. Oliver Luxxe Assets LLC grew its holdings in Magnolia Oil & Gas by 2.7% in the first quarter. Oliver Luxxe Assets LLC now owns 44,618 shares of the company’s stock valued at $1,158,000 after purchasing an additional 1,179 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Magnolia Oil & Gas by 4.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,184,107 shares of the company’s stock valued at $82,628,000 after purchasing an additional 142,717 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

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.