Mizuho Trims Magnolia Oil & Gas (NYSE:MGY) Target Price to $27.00

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

A number of other brokerages also recently commented on MGY. JPMorgan Chase & Co. lowered their price target on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a neutral rating for the company in a report on Thursday, September 12th. Wolfe Research initiated coverage on shares of Magnolia Oil & Gas in a report on Thursday, July 18th. They issued an outperform rating and a $32.00 target price for the company. Wells Fargo & Company lowered their target price on shares of Magnolia Oil & Gas from $27.00 to $26.00 and set an equal weight rating for the company in a report on Monday, August 5th. Capital One Financial initiated coverage on shares of Magnolia Oil & Gas in a report on Tuesday, June 11th. They issued an overweight rating and a $28.00 target price for the company. Finally, Truist Financial boosted their target price on shares of Magnolia Oil & Gas from $34.00 to $35.00 and gave the company a buy rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $28.00.

Magnolia Oil & Gas Stock Performance

Shares of NYSE MGY opened at $25.21 on Monday. The company has a market cap of $5.02 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 1.18 and a beta of 2.00. Magnolia Oil & Gas has a 12 month low of $19.16 and a 12 month high of $27.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28. The company has a 50-day simple moving average of $25.17 and a 200-day simple moving average of $25.23.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The business had revenue of $336.73 million during the quarter, compared to the consensus estimate of $340.72 million. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. On average, equities analysts anticipate that Magnolia Oil & Gas will post 2.08 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.52 annualized dividend and a yield of 2.06%. Magnolia Oil & Gas’s dividend payout ratio is currently 25.87%.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several institutional investors have recently bought and sold shares of MGY. Brown Advisory Inc. acquired a new position in shares of Magnolia Oil & Gas during the fourth quarter worth $694,000. Nordea Investment Management AB lifted its position in shares of Magnolia Oil & Gas by 37.1% during the first quarter. Nordea Investment Management AB now owns 521,702 shares of the company’s stock worth $13,387,000 after purchasing an additional 141,046 shares in the last quarter. Maryland State Retirement & Pension System acquired a new position in shares of Magnolia Oil & Gas during the first quarter worth $1,721,000. Texas Permanent School Fund Corp acquired a new position in shares of Magnolia Oil & Gas during the first quarter worth $4,207,000. Finally, Vanguard Group Inc. lifted its position in shares of Magnolia Oil & Gas by 16.6% during the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock worth $538,654,000 after purchasing an additional 2,956,314 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other 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.