Magnolia Oil & Gas Co. (NYSE:MGY) Receives $27.67 Consensus Target Price from Analysts

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have earned an average recommendation of “Hold” from the thirteen brokerages that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $27.58.

MGY has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on 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. Piper Sandler lowered their price target on Magnolia Oil & Gas from $26.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday. Wells Fargo & Company lowered shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $26.00 to $22.00 in a research note on Tuesday, October 1st. Truist Financial increased their target price on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock opened at $23.14 on Friday. Magnolia Oil & Gas has a 52-week low of $19.16 and a 52-week high of $29.02. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. The firm’s fifty day moving average is $26.39 and its 200 day moving average is $25.60. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 1.29 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. The firm had revenue of $333.14 million for the quarter, compared to analysts’ expectations of $331.45 million. Sell-side analysts forecast that Magnolia Oil & Gas will post 2 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Friday, November 8th. Magnolia Oil & Gas’s dividend payout ratio is presently 25.74%.

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 on Monday, September 23rd. The stock was sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the transaction, the director now owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. This trade represents a 76.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. boosted its stake in shares of Magnolia Oil & Gas by 64.7% during the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock valued at $25,000 after purchasing an additional 396 shares in the last quarter. Jennison Associates LLC lifted its holdings in Magnolia Oil & Gas by 2.2% during the third quarter. Jennison Associates LLC now owns 23,836 shares of the company’s stock worth $582,000 after buying an additional 506 shares during the period. Atria Investments Inc boosted its position in Magnolia Oil & Gas by 2.3% during the 3rd quarter. Atria Investments Inc now owns 23,576 shares of the company’s stock valued at $576,000 after acquiring an additional 523 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Magnolia Oil & Gas by 1.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 52,834 shares of the company’s stock valued at $1,290,000 after acquiring an additional 548 shares during the period. Finally, Bank of Montreal Can increased 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 valued at $931,000 after acquiring an additional 640 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

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.