Brokerages Set Magnolia Oil & Gas Co. (NYSE:MGY) PT at $27.64

Magnolia Oil & Gas Co. (NYSE:MGY) has been assigned a consensus rating of “Hold” from the twelve analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $27.27.

A number of brokerages have commented on MGY. Mizuho reduced their target price on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Susquehanna reduced their target price on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a report on Thursday, July 18th. Capital One Financial started coverage on Magnolia Oil & Gas in a research note on Tuesday, June 11th. They set an “overweight” rating and a $28.00 price target on the stock. Finally, Truist Financial dropped their price target on Magnolia Oil & Gas from $35.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, September 30th.

Magnolia Oil & Gas Stock Performance

MGY stock opened at $26.85 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28. The business has a 50-day moving average price of $24.88 and a 200 day moving average price of $25.36. The company has a market capitalization of $5.44 billion, a P/E ratio of 13.36, a PEG ratio of 1.29 and a beta of 1.99. 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 earnings results on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The business had revenue of $336.73 million during the quarter, compared to the consensus estimate of $340.72 million. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. As a group, equities research analysts forecast that Magnolia Oil & Gas will post 1.98 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.13 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.52 dividend on an annualized basis and a yield of 1.94%. Magnolia Oil & Gas’s dividend payout ratio is currently 25.87%.

Insider Activity at Magnolia Oil & Gas

In related news, Director Ltd. Enervest sold 7,000,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $25.86, for a total value of $181,020,000.00. Following the sale, the director now owns 2,099,403 shares in the company, valued at $54,290,561.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MGY. Vanguard Group Inc. lifted its holdings in Magnolia Oil & Gas by 16.6% in the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock valued at $538,654,000 after acquiring an additional 2,956,314 shares during the period. Principal Financial Group Inc. raised its stake in shares of Magnolia Oil & Gas by 2,799.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,881,039 shares of the company’s stock worth $48,813,000 after buying an additional 1,816,158 shares during the period. First Trust Advisors LP raised its stake in shares of Magnolia Oil & Gas by 20.2% during the 4th quarter. First Trust Advisors LP now owns 10,126,891 shares of the company’s stock worth $215,602,000 after buying an additional 1,704,982 shares during the period. Ranger Investment Management L.P. acquired a new position in shares of Magnolia Oil & Gas during the 4th quarter worth approximately $25,226,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Magnolia Oil & Gas during the 1st quarter worth approximately $30,161,000. 94.73% of the stock is owned by institutional investors and hedge funds.

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.