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

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have been assigned a consensus rating of “Hold” from the thirteen analysts that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $27.58.

A number of equities research analysts have recently commented on the stock. Piper Sandler cut their price target on shares of Magnolia Oil & Gas from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. JPMorgan Chase & Co. cut their target price on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Mizuho boosted their price target on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Finally, Siebert Williams Shank lowered Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research report on Tuesday, October 15th.

Magnolia Oil & Gas Stock Up 1.0 %

Shares of NYSE:MGY opened at $24.22 on Thursday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $25.69 and a two-hundred day simple moving average of $25.51. Magnolia Oil & Gas has a 12-month low of $19.16 and a 12-month high of $29.02. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 1.29 and a beta of 2.00.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The firm had revenue of $333.14 million during the quarter, compared to analyst estimates of $331.45 million. On average, research 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 announced a quarterly dividend, which was paid on Monday, December 2nd. Investors 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 annualized dividend and a yield of 2.15%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.74%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MGY. Harbor Capital Advisors Inc. purchased a new stake in shares of Magnolia Oil & Gas in the 3rd quarter worth $25,000. First Horizon Advisors Inc. grew its holdings in Magnolia Oil & Gas by 64.7% during 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 period. GAMMA Investing LLC increased its position in Magnolia Oil & Gas by 62.4% in 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. Covestor Ltd raised its stake in shares of Magnolia Oil & Gas by 36.8% in the third quarter. Covestor Ltd now owns 2,986 shares of the company’s stock worth $73,000 after buying an additional 804 shares during the period. Finally, Truvestments Capital LLC purchased a new position in shares of Magnolia Oil & Gas during the 3rd quarter valued at about $90,000. 94.73% of the stock is currently 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.