Magnolia Oil & Gas (NYSE:MGY) Price Target Raised to $28.00 at Mizuho

Magnolia Oil & Gas (NYSE:MGY) had its price target lifted by Mizuho from $27.00 to $28.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts also recently weighed in on the company. Siebert Williams Shank downgraded Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research report on Tuesday, October 15th. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Truist Financial raised their price target on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company cut shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $26.00 to $22.00 in a research report on Tuesday, October 1st. Finally, Susquehanna cut their target price on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Magnolia Oil & Gas currently has an average rating of “Hold” and an average price target of $27.75.

Magnolia Oil & Gas Trading Down 2.9 %

Shares of Magnolia Oil & Gas stock opened at $24.60 on Monday. Magnolia Oil & Gas has a 52-week low of $19.16 and a 52-week high of $29.02. The firm has a 50-day moving average of $26.60 and a 200-day moving average of $25.65. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market cap of $4.84 billion, a PE ratio of 12.18, a PEG ratio of 1.29 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. The business had revenue of $333.14 million during the quarter, compared to analysts’ expectations of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. As a group, sell-side analysts forecast that Magnolia Oil & Gas will post 2 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.52 annualized dividend and a yield of 2.11%. Magnolia Oil & Gas’s dividend payout ratio is currently 25.74%.

Insider Transactions at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $25.86, for a total value of $181,020,000.00. Following the completion of the sale, the director now owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. This trade represents a 76.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. State Street Corp increased its position in shares of Magnolia Oil & Gas by 4.2% during the third quarter. State Street Corp now owns 10,700,257 shares of the company’s stock worth $261,300,000 after acquiring an additional 435,326 shares in the last quarter. American Century Companies Inc. boosted its stake 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 purchasing an additional 847,542 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Magnolia Oil & Gas by 16.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock worth $114,554,000 after purchasing an additional 627,933 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Magnolia Oil & Gas by 2.9% in the third quarter. Geode Capital Management LLC now owns 4,107,769 shares of the company’s stock worth $100,332,000 after purchasing an additional 116,431 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Magnolia Oil & Gas by 1.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,061,846 shares of the company’s stock valued at $74,770,000 after purchasing an additional 50,351 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

About Magnolia Oil & Gas

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.