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

Magnolia Oil & Gas Co. (NYSE:MGY) has received an average rating of “Hold” from the twelve brokerages that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $27.27.

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered 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 note on Thursday, September 12th. Susquehanna lowered their price target on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Bank of America increased their price objective on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Wolfe Research assumed coverage on Magnolia Oil & Gas in a report on Thursday, July 18th. They set an “outperform” rating and a $32.00 target price on the stock. Finally, Piper Sandler reduced their price objective on Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating on the stock 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 business’s stock in a transaction dated 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 sale, the director now directly owns 2,099,403 shares in the company, valued at $54,290,561.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of hedge funds have recently added to or reduced their stakes in MGY. Nordea Investment Management AB increased its position in shares of Magnolia Oil & Gas by 37.1% during the first quarter. Nordea Investment Management AB now owns 521,702 shares of the company’s stock worth $13,387,000 after acquiring an additional 141,046 shares during the period. Maryland State Retirement & Pension System purchased a new stake in Magnolia Oil & Gas during the 1st quarter worth about $1,721,000. Texas Permanent School Fund Corp acquired a new stake in Magnolia Oil & Gas in the 1st quarter valued at about $4,207,000. Vanguard Group Inc. boosted its stake in shares of Magnolia Oil & Gas by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock valued at $538,654,000 after buying an additional 2,956,314 shares during the period. Finally, Wasatch Advisors LP grew its position in shares of Magnolia Oil & Gas by 2.2% during the fourth quarter. Wasatch Advisors LP now owns 3,679,262 shares of the company’s stock worth $78,331,000 after buying an additional 77,733 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Trading Up 0.6 %

Shares of Magnolia Oil & Gas stock opened at $27.01 on Tuesday. 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 has a twelve month low of $19.16 and a twelve month high of $27.63. The firm has a market capitalization of $5.48 billion, a PE ratio of 13.44, a P/E/G ratio of 1.29 and a beta of 1.99. The firm’s 50-day moving average price is $24.89 and its 200 day moving average price is $25.38.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.05. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. The business had revenue of $336.73 million for the quarter, compared to the consensus estimate of $340.72 million. On average, sell-side analysts predict that Magnolia Oil & Gas will post 1.98 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a $0.13 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.93%. Magnolia Oil & Gas’s payout ratio is presently 25.87%.

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.