Truist Financial Issues Positive Forecast for Magnolia Oil & Gas (NYSE:MGY) Stock Price

Magnolia Oil & Gas (NYSE:MGY) had its price objective raised by Truist Financial from $31.00 to $33.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Siebert Williams Shank cut shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research note on Tuesday, October 15th. Wells Fargo & Company lowered shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $26.00 to $22.00 in a research report on Tuesday, October 1st. Mizuho cut their target price on Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Finally, Wolfe Research initiated coverage on Magnolia Oil & Gas in a report on Thursday, July 18th. They set an “outperform” rating and a $32.00 price target for the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $27.67.

Magnolia Oil & Gas Price Performance

Shares of MGY opened at $25.72 on Friday. The company has a 50 day moving average of $25.31 and a two-hundred day moving average of $25.35. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 1.28 and a beta of 1.99. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas has a twelve month low of $19.16 and a twelve month high of $27.63.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. The company had revenue of $333.14 million during the quarter, compared to the consensus estimate of $331.45 million. As a group, analysts predict that Magnolia Oil & Gas will post 1.98 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.02%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 25.74%.

Insider Transactions at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas 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 completion of the transaction, the director now owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

Institutional Trading of Magnolia Oil & Gas

Large investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. acquired a new stake in Magnolia Oil & Gas in the third quarter worth about $25,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Magnolia Oil & Gas by 1,753.6% in 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 in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Magnolia Oil & Gas during the second quarter valued at approximately $26,000. GAMMA Investing LLC increased its stake in shares of Magnolia Oil & Gas by 184.4% during the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $41,000 after acquiring an additional 1,042 shares during the period. Finally, Fidelis Capital Partners LLC bought a new position in Magnolia Oil & Gas during the 1st quarter valued at $50,000. 94.73% of the stock is currently 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.