Magnolia Oil & Gas Co. (NYSE:MGY) Given Consensus Rating of “Hold” by Analysts

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have earned a consensus rating of “Hold” from the fourteen ratings firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts 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. Mizuho lifted their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Piper Sandler upped their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. The Goldman Sachs Group downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $27.00 to $26.00 in a research note on Friday, January 31st. Bank of America restated a “neutral” rating and issued a $28.00 price target (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Finally, Johnson Rice cut Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $22.63 on Friday. The stock’s 50-day moving average is $24.15 and its two-hundred day moving average is $25.13. 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 1 year low of $21.63 and a 1 year high of $29.02. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 3.01 and a beta of 1.90.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results 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. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The firm had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. Analysts predict that Magnolia Oil & Gas will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.15 dividend. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 annualized dividend and a yield of 2.65%. Magnolia Oil & Gas’s dividend payout ratio is presently 31.09%.

Insider Buying and Selling at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros bought 2,500 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was bought at an average cost of $22.05 per share, with a total value of $55,125.00. Following the completion of the acquisition, the chief executive officer now owns 892,372 shares in the company, valued at approximately $19,676,802.60. This represents a 0.28 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several institutional investors have recently modified their holdings of MGY. Harbor Capital Advisors Inc. acquired a new position in Magnolia Oil & Gas during the third quarter worth $25,000. First Horizon Advisors Inc. raised its stake in shares of Magnolia Oil & Gas by 64.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after buying an additional 396 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Magnolia Oil & Gas by 112.3% in the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock worth $25,000 after buying an additional 567 shares in the last quarter. Mather Group LLC. grew its stake in Magnolia Oil & Gas by 100.0% in the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock valued at $25,000 after acquiring an additional 545 shares during the last quarter. Finally, R Squared Ltd purchased a new position in Magnolia Oil & Gas during the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

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.