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

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have been given an average recommendation of “Hold” by the ten ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $28.11.

Several equities research analysts have recently issued reports on the stock. Susquehanna increased their price objective on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Truist Financial lifted their price target on shares of Magnolia Oil & Gas from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Piper Sandler reaffirmed a “neutral” rating and issued a $29.00 target price on shares of Magnolia Oil & Gas in a research report on Friday, April 19th. The Goldman Sachs Group raised their price target on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Finally, Wells Fargo & Company raised their target price on shares of Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th.

Insider Activity at Magnolia Oil & Gas

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 transaction, the director now owns 4,164,961 shares in the company, valued at $106,539,702.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new position in shares of Magnolia Oil & Gas during the 1st quarter worth $27,000. Private Wealth Management Group LLC acquired a new position in Magnolia Oil & Gas during the 4th quarter worth approximately $33,000. VisionPoint Advisory Group LLC lifted its stake in Magnolia Oil & Gas by 112.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock valued at $35,000 after purchasing an additional 813 shares during the last quarter. Lindbrook Capital LLC grew its stake 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 worth $43,000 after buying an additional 627 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Magnolia Oil & Gas during the first quarter worth $50,000. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Stock Up 0.9 %

Magnolia Oil & Gas stock opened at $25.27 on Friday. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.42 and a beta of 2.00. The company’s 50 day simple moving average is $25.23 and its 200 day simple moving average is $23.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.71 and a quick ratio of 1.71. Magnolia Oil & Gas has a fifty-two week low of $19.16 and a fifty-two week high of $27.33.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Tuesday, May 7th. The company reported $0.49 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $308.21 million. As a group, sell-side analysts anticipate that Magnolia Oil & Gas will post 2.25 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.06%. Magnolia Oil & Gas’s payout ratio is presently 25.87%.

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.