Magnolia Oil & Gas (NYSE:MGY) PT Lowered to $34.00 at Truist Financial

Magnolia Oil & Gas (NYSE:MGY) had its target price lowered by Truist Financial from $35.00 to $34.00 in a report released on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts also recently commented on the company. Piper Sandler reiterated a neutral rating and set a $29.00 price target on shares of Magnolia Oil & Gas in a report on Friday, April 19th. Benchmark reiterated a hold rating on shares of Magnolia Oil & Gas in a report on Thursday, July 18th. Capital One Financial assumed coverage on Magnolia Oil & Gas in a report on Tuesday, June 11th. They set an overweight rating and a $28.00 price target on the stock. Mizuho increased their price target on Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a neutral rating in a report on Monday, May 13th. Finally, Citigroup increased their price target on Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a sell rating in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and an average target price of $29.00.

Magnolia Oil & Gas Trading Down 1.1 %

NYSE:MGY opened at $25.61 on Monday. The stock’s 50 day moving average price is $25.36 and its 200 day moving average price is $24.10. Magnolia Oil & Gas has a 52 week low of $19.16 and a 52 week high of $27.62. The company has a market capitalization of $5.19 billion, a P/E ratio of 12.74, a P/E/G ratio of 1.46 and a beta of 2.02. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.71 and a current ratio of 1.71.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. Magnolia Oil & Gas had a return on equity of 20.41% and a net margin of 30.46%. The firm had revenue of $319.42 million for the quarter, compared to the consensus estimate of $308.21 million. On average, research analysts forecast that Magnolia Oil & Gas will post 2.23 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were given a $0.13 dividend. The ex-dividend date was Friday, May 10th. This represents a $0.52 annualized dividend and a yield of 2.03%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 25.87%.

Insider Buying and Selling

In related news, Director John B. Walker sold 12,000,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $25.58, for a total value of $306,960,000.00. Following the completion of the transaction, the director now directly owns 4,164,961 shares of the company’s stock, valued at $106,539,702.38. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MGY. Lindbrook Capital LLC lifted its holdings in shares of Magnolia Oil & Gas by 61.5% during the first quarter. Lindbrook Capital LLC now owns 1,647 shares of the company’s stock valued at $43,000 after acquiring an additional 627 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Magnolia Oil & Gas by 5.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,156 shares of the company’s stock valued at $280,000 after acquiring an additional 730 shares during the period. Commerce Bank lifted its holdings in shares of Magnolia Oil & Gas by 4.0% during the fourth quarter. Commerce Bank now owns 24,820 shares of the company’s stock valued at $528,000 after acquiring an additional 945 shares during the period. Fulton Bank N.A. lifted its holdings in shares of Magnolia Oil & Gas by 10.3% during the second quarter. Fulton Bank N.A. now owns 10,411 shares of the company’s stock valued at $264,000 after acquiring an additional 968 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Magnolia Oil & Gas by 1,753.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock valued at $26,000 after acquiring an additional 982 shares during the period. 94.73% of the stock is owned by institutional investors.

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.