Magnolia Oil & Gas (NYSE:MGY) Price Target Raised to $33.00

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

Several other research firms have also commented on MGY. Truist Financial upped 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 report on Friday, May 31st. The Goldman Sachs Group upped 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. Citigroup upped their price target on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a sell rating in a research report on Monday, April 15th. Wolfe Research started coverage on shares of Magnolia Oil & Gas in a research report on Thursday, July 18th. They set an outperform rating and a $32.00 price target for the company. Finally, Benchmark reiterated a hold rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Magnolia Oil & Gas has an average rating of Hold and an average price target of $29.00.

Magnolia Oil & Gas Price Performance

Shares of NYSE:MGY opened at $25.61 on Monday. Magnolia Oil & Gas has a fifty-two week low of $19.16 and a fifty-two week high of $27.62. The business has a 50-day simple moving average of $25.36 and a two-hundred day simple moving average of $24.10. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.71 and a current ratio of 1.71. The firm has a market cap of $5.19 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 1.46 and a beta of 2.02.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Tuesday, May 7th. The company reported $0.49 earnings per share for the quarter, topping 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 business had revenue of $319.42 million during the quarter, compared to analyst estimates of $308.21 million. On average, analysts expect that Magnolia Oil & Gas will post 2.23 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.52 annualized dividend and a yield of 2.03%. Magnolia Oil & Gas’s payout ratio is presently 25.87%.

Insider Activity at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director John B. Walker sold 12,000,000 shares of the 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 sale, the director now owns 4,164,961 shares in the company, valued at $106,539,702.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is currently owned by insiders.

Institutional Trading of Magnolia Oil & Gas

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Lindbrook Capital LLC increased its stake in Magnolia Oil & Gas by 61.5% in the first 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 period. Envestnet Portfolio Solutions Inc. increased its stake in Magnolia Oil & Gas by 5.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,156 shares of the company’s stock worth $280,000 after purchasing an additional 730 shares during the period. Commerce Bank increased its stake in Magnolia Oil & Gas by 4.0% in the fourth quarter. Commerce Bank now owns 24,820 shares of the company’s stock worth $528,000 after purchasing an additional 945 shares during the period. Fulton Bank N.A. increased its stake in shares of Magnolia Oil & Gas by 10.3% during the second quarter. Fulton Bank N.A. now owns 10,411 shares of the company’s stock valued at $264,000 after buying an additional 968 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Magnolia Oil & Gas by 1,753.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock valued at $26,000 after buying an additional 982 shares during the period. Hedge funds and other institutional investors 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.