Brokerages Set Magnolia Oil & Gas Co. (NYSE:MGY) PT at $27.64

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have been assigned a consensus rating of “Hold” from the twelve brokerages that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $27.27.

A number of analysts have recently commented on MGY shares. Wolfe Research began coverage on shares of Magnolia Oil & Gas in a research note on Thursday, July 18th. They set an “outperform” rating and a $32.00 target price for the company. Wells Fargo & Company lowered Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $26.00 to $22.00 in a research note on Tuesday. 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 report on Thursday, September 12th. Piper Sandler lowered their price target on Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Finally, Mizuho reduced their price objective on Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, September 16th.

Insider Activity at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the completion of the sale, the director now owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Magnolia Oil & Gas

Several large investors have recently modified their holdings of MGY. Bank of Montreal Can lifted its holdings in shares of Magnolia Oil & Gas by 1.8% in the 2nd quarter. Bank of Montreal Can now owns 36,716 shares of the company’s stock worth $931,000 after acquiring an additional 640 shares during the last quarter. Fulton Bank N.A. lifted its stake in Magnolia Oil & Gas by 10.3% during the second quarter. Fulton Bank N.A. now owns 10,411 shares of the company’s stock worth $264,000 after purchasing an additional 968 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Magnolia Oil & Gas by 1,753.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock worth $26,000 after buying an additional 982 shares during the period. Mather Group LLC. acquired a new stake in shares of Magnolia Oil & Gas in the first quarter valued at $27,000. Finally, GAMMA Investing LLC raised its holdings in shares of Magnolia Oil & Gas by 184.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $41,000 after buying an additional 1,042 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Up 4.2 %

Magnolia Oil & Gas stock opened at $26.25 on Tuesday. 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 stock has a market capitalization of $5.32 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 1.21 and a beta of 2.00. The business has a 50 day simple moving average of $24.87 and a 200-day simple moving average of $25.33. Magnolia Oil & Gas has a 12 month low of $19.16 and a 12 month high of $27.63.

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 the consensus estimate of $0.51 by $0.05. The company had revenue of $336.73 million during the quarter, compared to analyst estimates of $340.72 million. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. On average, analysts anticipate that Magnolia Oil & Gas will post 2.04 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given 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 dividend yield of 1.98%. Magnolia Oil & Gas’s payout ratio is 25.87%.

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.