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

Magnolia Oil & Gas Co. (NYSE:MGY) has been assigned a consensus rating of “Hold” from the twelve research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $27.64.

Several research firms have recently weighed in on MGY. Susquehanna dropped their price objective on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Piper Sandler decreased their price target on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Capital One Financial began coverage on Magnolia Oil & Gas in a research report on Tuesday, June 11th. They issued an “overweight” rating and a $28.00 target price for the company. Wolfe Research assumed coverage on Magnolia Oil & Gas in a research report on Thursday, July 18th. They set an “outperform” rating and a $32.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on shares of 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.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $24.42 on Tuesday. The business’s 50-day moving average price is $24.94 and its 200-day moving average price is $25.32. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 1.21 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 current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.21.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.05. The business had revenue of $336.73 million during the quarter, compared to analyst estimates of $340.72 million. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. Equities research analysts forecast that Magnolia Oil & Gas will post 2.04 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Friday, August 9th. Magnolia Oil & Gas’s payout ratio is presently 25.87%.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas stock in a transaction dated 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 transaction, the director now owns 2,099,403 shares in the company, valued at $54,290,561.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Magnolia Oil & Gas

A number of large investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC bought a new position in shares of Magnolia Oil & Gas in the second quarter worth approximately $428,000. Teachers Retirement System of The State of Kentucky boosted its position in Magnolia Oil & Gas by 92.6% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 121,882 shares of the company’s stock valued at $3,088,000 after buying an additional 58,585 shares during the period. Creative Planning grew its holdings in Magnolia Oil & Gas by 21.3% in the 2nd quarter. Creative Planning now owns 63,589 shares of the company’s stock worth $1,611,000 after acquiring an additional 11,160 shares during the last quarter. Algert Global LLC purchased a new position in shares of Magnolia Oil & Gas in the second quarter valued at about $442,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Magnolia Oil & Gas by 0.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,647,897 shares of the company’s stock valued at $41,758,000 after acquiring an additional 11,877 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other 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.