Magnolia Oil & Gas’ (MGY) “Hold” Rating Reiterated at Benchmark

Benchmark reaffirmed their hold rating on shares of Magnolia Oil & Gas (NYSE:MGY) in a report published on Tuesday, Benzinga reports.

Several other research analysts also recently weighed in on the company. Truist Financial lifted their target price on Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a buy rating in a research note on Friday, February 16th. Citigroup lifted their price objective on Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a sell rating in a report on Monday, April 15th. Bank of America initiated coverage on Magnolia Oil & Gas in a report on Tuesday, February 27th. They set a buy rating and a $25.00 price objective for the company. Piper Sandler reaffirmed a neutral rating and set a $29.00 price objective on shares of Magnolia Oil & Gas in a report on Friday, April 19th. Finally, Wells Fargo & Company lifted their price objective on Magnolia Oil & Gas from $23.00 to $27.00 and gave the stock an equal weight rating in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $27.63.

Magnolia Oil & Gas Trading Up 0.2 %

MGY opened at $26.34 on Tuesday. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 1.59 and a beta of 2.05. Magnolia Oil & Gas has a 52 week low of $18.72 and a 52 week high of $27.33. The business’s 50 day moving average is $24.69 and its two-hundred day moving average is $22.53. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.21.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $322.63 million during the quarter, compared to analysts’ expectations of $324.95 million. On average, research analysts predict that Magnolia Oil & Gas will post 2.09 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.37%.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of hedge funds have recently bought and sold shares of MGY. Mather Group LLC. bought a new position in Magnolia Oil & Gas during the 1st quarter worth approximately $27,000. Private Wealth Management Group LLC bought a new position in Magnolia Oil & Gas during the 4th quarter worth approximately $33,000. VisionPoint Advisory Group LLC lifted its holdings in Magnolia Oil & Gas by 112.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after buying an additional 813 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Magnolia Oil & Gas by 61.5% in the 1st quarter. Lindbrook Capital LLC now owns 1,647 shares of the company’s stock worth $43,000 after purchasing an additional 627 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Magnolia Oil & Gas by 40.4% in the 4th quarter. Quadrant Capital Group LLC now owns 4,623 shares of the company’s stock worth $98,000 after purchasing an additional 1,331 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

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.