Brokerages Set Magnolia Oil & Gas Co. (NYSE:MGY) Target Price at $27.67

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have earned an average recommendation of “Hold” from the thirteen ratings firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $27.58.

MGY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Susquehanna reduced their price objective on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Mizuho upped their target price on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday. Wells Fargo & Company downgraded shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $26.00 to $22.00 in a report on Tuesday, October 1st. Finally, Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th.

Insider Activity at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now owns 2,099,403 shares of the company’s stock, valued at $54,290,561.58. This represents a 76.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Magnolia Oil & Gas

Institutional investors and hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. purchased a new position in Magnolia Oil & Gas in the 3rd quarter worth approximately $25,000. First Horizon Advisors Inc. increased its holdings in shares of Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock valued at $25,000 after purchasing an additional 396 shares during the last quarter. GAMMA Investing LLC lifted its position in Magnolia Oil & Gas by 62.4% during the third quarter. GAMMA Investing LLC now owns 2,609 shares of the company’s stock worth $64,000 after buying an additional 1,002 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Magnolia Oil & Gas by 61.9% during the second quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company’s stock worth $72,000 after buying an additional 1,090 shares during the last quarter. Finally, Covestor Ltd grew its holdings in Magnolia Oil & Gas by 36.8% in the 3rd quarter. Covestor Ltd now owns 2,986 shares of the company’s stock valued at $73,000 after buying an additional 804 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Trading Down 0.9 %

NYSE:MGY opened at $23.14 on Friday. The firm has a 50 day moving average of $26.39 and a 200 day moving average of $25.60. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 1.29 and a beta of 1.99. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas has a 52 week low of $19.16 and a 52 week high of $29.02.

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

Magnolia Oil & Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were given a dividend of $0.13 per share. The ex-dividend date was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 2.25%. Magnolia Oil & Gas’s dividend payout ratio is currently 25.74%.

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.