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

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have been assigned an average recommendation of “Hold” from the thirteen analysts that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $27.50.

MGY has been the topic of a number of recent analyst reports. Siebert Williams Shank lowered Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research note on Tuesday, October 15th. Truist Financial decreased their price target on Magnolia Oil & Gas from $35.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Susquehanna dropped their price objective on shares of 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. JPMorgan Chase & Co. decreased their target price on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Finally, Piper Sandler dropped 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 report on Thursday, August 15th.

Insider Activity at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the firm’s 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 directly owns 2,099,403 shares of the company’s stock, valued at $54,290,561.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Magnolia Oil & Gas

Hedge funds have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV grew its position in Magnolia Oil & Gas by 1,753.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock valued at $26,000 after acquiring an additional 982 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in Magnolia Oil & Gas during the 2nd quarter worth $26,000. GAMMA Investing LLC increased its stake in Magnolia Oil & Gas by 184.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $41,000 after buying an additional 1,042 shares during the period. Fidelis Capital Partners LLC purchased a new position in Magnolia Oil & Gas in the 1st quarter valued at about $50,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Magnolia Oil & Gas by 61.9% during the second quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company’s stock valued at $72,000 after acquiring an additional 1,090 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Trading Up 0.6 %

Shares of MGY stock opened at $26.01 on Friday. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.33 and a beta of 1.99. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $25.27 and a 200 day moving average price of $25.40. Magnolia Oil & Gas has a twelve month low of $19.16 and a twelve month high of $27.63.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. The business had revenue of $336.73 million during the quarter, compared to analyst estimates of $340.72 million. Research analysts forecast that Magnolia Oil & Gas will post 1.98 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 Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Friday, August 9th. Magnolia Oil & Gas’s dividend payout ratio is presently 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.