Magnolia Oil & Gas Co. (NYSE:MGY) Receives $27.77 Average Price Target from Analysts

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have earned an average recommendation of “Hold” from the fourteen analysts that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $27.77.

A number of research analysts recently issued reports on the stock. Johnson Rice cut shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. The Goldman Sachs Group lowered Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and decreased their price target for the company from $27.00 to $26.00 in a research note on Friday, January 31st. Williams Trading set a $29.00 price objective on Magnolia Oil & Gas in a research report on Wednesday, March 5th. Bank of America reiterated a “neutral” rating and issued a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, March 13th.

Magnolia Oil & Gas Stock Performance

MGY opened at $25.21 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. Magnolia Oil & Gas has a 52-week low of $21.63 and a 52-week high of $29.02. The firm has a market cap of $4.89 billion, a P/E ratio of 13.06, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90. The business’s fifty day moving average is $24.08 and its 200-day moving average is $25.08.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. Sell-side analysts expect that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.38%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 31.09%.

Insider Transactions at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros acquired 2,500 shares of the stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the transaction, the chief executive officer now directly owns 892,372 shares of the company’s stock, valued at $19,676,802.60. The trade was a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by company insiders.

Institutional Trading of Magnolia Oil & Gas

Several institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its position in shares of Magnolia Oil & Gas by 2.5% in the 4th quarter. California State Teachers Retirement System now owns 166,704 shares of the company’s stock worth $3,898,000 after purchasing an additional 4,004 shares during the period. Phocas Financial Corp. lifted its holdings in Magnolia Oil & Gas by 2.2% in the fourth quarter. Phocas Financial Corp. now owns 119,349 shares of the company’s stock valued at $2,790,000 after buying an additional 2,548 shares during the period. GF Fund Management CO. LTD. bought a new stake in Magnolia Oil & Gas during the fourth quarter valued at $1,370,000. GTS Securities LLC acquired a new stake in Magnolia Oil & Gas during the 4th quarter worth about $829,000. Finally, Voloridge Investment Management LLC raised its position in shares of Magnolia Oil & Gas by 4.7% in the 4th quarter. Voloridge Investment Management LLC now owns 892,815 shares of the company’s stock worth $20,874,000 after acquiring an additional 40,073 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.