Piper Sandler Reaffirms “Neutral” Rating for Magnolia Oil & Gas (NYSE:MGY)

Piper Sandler restated their neutral rating on shares of Magnolia Oil & Gas (NYSE:MGY) in a research note released on Friday, Marketbeat.com reports. They currently have a $29.00 price target on the stock.

Several other equities research analysts also recently issued reports on MGY. Bank of America initiated coverage on Magnolia Oil & Gas in a research report on Tuesday, February 27th. They set a buy rating and a $25.00 target price on the stock. Citigroup upped their price target on Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a sell rating in a research report on Monday, April 15th. Wells Fargo & Company raised their price objective on shares of Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an equal weight rating in a research report on Thursday, April 18th. Mizuho upped their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a neutral rating in a report on Thursday, March 14th. Finally, The Goldman Sachs Group boosted their price target on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a buy rating in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and a consensus target price of $27.63.

Magnolia Oil & Gas Trading Up 0.4 %

NYSE:MGY opened at $25.72 on Friday. Magnolia Oil & Gas has a 12 month low of $18.72 and a 12 month high of $27.33. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.21. The firm’s 50 day moving average is $24.17 and its 200 day moving average is $22.39. The stock has a market capitalization of $5.25 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.58 and a beta of 2.05.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. The firm had revenue of $322.63 million for the quarter, compared to analysts’ expectations of $324.95 million. Sell-side analysts expect that Magnolia Oil & Gas will post 2.08 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.02%. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, February 15th. Magnolia Oil & Gas’s payout ratio is presently 25.37%.

Institutional Trading of Magnolia Oil & Gas

Institutional investors have recently added to or reduced their stakes in the business. Financial Management Professionals Inc. lifted its stake in shares of Magnolia Oil & Gas by 48.7% in the 3rd quarter. Financial Management Professionals Inc. now owns 3,794 shares of the company’s stock valued at $87,000 after acquiring an additional 1,242 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Magnolia Oil & Gas by 537.3% during the third quarter. SG Americas Securities LLC now owns 41,187 shares of the company’s stock valued at $944,000 after purchasing an additional 34,724 shares during the period. Ziegler Capital Management LLC grew its holdings in shares of Magnolia Oil & Gas by 0.4% in the third quarter. Ziegler Capital Management LLC now owns 489,354 shares of the company’s stock worth $11,211,000 after purchasing an additional 1,801 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in Magnolia Oil & Gas by 7.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 115,205 shares of the company’s stock valued at $2,639,000 after buying an additional 8,365 shares during the last quarter. Finally, Raymond James & Associates boosted its position in Magnolia Oil & Gas by 12.4% during the 3rd quarter. Raymond James & Associates now owns 371,743 shares of the company’s stock valued at $8,517,000 after buying an additional 41,037 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

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.