Magnolia Oil & Gas (NYSE:MGY) Price Target Lowered to $27.00 at Mizuho

Magnolia Oil & Gas (NYSE:MGY) had its price target trimmed by Mizuho from $28.00 to $27.00 in a report published on Monday, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities analysts have also recently weighed in on the stock. Susquehanna lowered their price objective on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a positive rating on the stock in a research note on Wednesday, September 4th. Bank of America lifted their price objective on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a buy rating in a research report on Tuesday, July 23rd. Piper Sandler reduced their price objective on shares of 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. JPMorgan Chase & Co. cut their target price on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a neutral rating for the company in a report on Thursday, September 12th. Finally, Wells Fargo & Company cut their target price on shares of Magnolia Oil & Gas from $27.00 to $26.00 and set an equal weight rating for the company in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $28.00.

Magnolia Oil & Gas Stock Up 2.8 %

NYSE:MGY opened at $25.91 on Monday. The firm’s 50-day moving average price is $25.17 and its 200-day moving average price is $25.24. The company has a market capitalization of $5.16 billion, a PE ratio of 12.89, a P/E/G ratio of 1.18 and a beta of 2.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28. Magnolia Oil & Gas has a 1-year low of $19.16 and a 1-year high of $27.63.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.51 by $0.05. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. The company had revenue of $336.73 million for the quarter, compared to the consensus estimate of $340.72 million. On average, equities analysts predict that Magnolia Oil & Gas will post 2.08 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.01%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.87%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new position in shares of Magnolia Oil & Gas during the 2nd quarter worth $428,000. Teachers Retirement System of The State of Kentucky increased its position in shares of Magnolia Oil & Gas by 92.6% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 121,882 shares of the company’s stock worth $3,088,000 after purchasing an additional 58,585 shares during the last quarter. Creative Planning increased its position in shares of Magnolia Oil & Gas by 21.3% during the 2nd quarter. Creative Planning now owns 63,589 shares of the company’s stock worth $1,611,000 after purchasing an additional 11,160 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Magnolia Oil & Gas during the 2nd quarter worth about $442,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Magnolia Oil & Gas by 0.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,647,897 shares of the company’s stock worth $41,758,000 after purchasing an additional 11,877 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Company Profile

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.