Brokerages Set Magnolia Oil & Gas Co. (NYSE:MGY) Price Target at $27.77

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have received an average recommendation of “Hold” from the fourteen research firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $27.77.

A number of equities analysts have recently weighed in on the company. Piper Sandler increased their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a report on Wednesday, March 5th. Bank of America reissued 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. The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $27.00 to $26.00 in a research report on Friday, January 31st. Finally, Mizuho boosted their price objective 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.

Magnolia Oil & Gas Trading Up 0.3 %

Shares of Magnolia Oil & Gas stock opened at $25.26 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. The business has a fifty day simple moving average of $24.05 and a two-hundred day simple moving average of $25.10. Magnolia Oil & Gas has a 1 year low of $21.63 and a 1 year high of $29.02. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 3.01 and a beta of 1.90.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. The business had revenue of $326.61 million during 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%. Research analysts forecast that Magnolia Oil & Gas will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Friday, February 14th. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 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 that occurred on Monday, March 3rd. The stock was acquired at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the transaction, the chief executive officer now directly owns 892,372 shares in the company, valued at $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Magnolia Oil & Gas

A number of institutional investors and hedge funds have recently bought and sold shares of the company. First Horizon Advisors Inc. grew its holdings 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 worth $25,000 after purchasing an additional 396 shares during the last quarter. Albert D Mason Inc. grew its holdings in Magnolia Oil & Gas by 0.7% during the 4th quarter. Albert D Mason Inc. now owns 61,497 shares of the company’s stock worth $1,438,000 after acquiring an additional 411 shares during the last quarter. Isthmus Partners LLC grew its holdings in Magnolia Oil & Gas by 5.2% during the 4th quarter. Isthmus Partners LLC now owns 9,320 shares of the company’s stock worth $218,000 after acquiring an additional 460 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in Magnolia Oil & Gas by 3.0% in the 4th quarter. OneDigital Investment Advisors LLC now owns 15,768 shares of the company’s stock valued at $369,000 after acquiring an additional 464 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of Magnolia Oil & Gas by 2.2% during the third quarter. Jennison Associates LLC now owns 23,836 shares of the company’s stock valued at $582,000 after acquiring an additional 506 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

About Magnolia Oil & Gas

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.