Magnolia Oil & Gas Corp (NYSE:MGY) Receives $26.42 Consensus Price Target from Brokerages

Magnolia Oil & Gas Corp (NYSE:MGY) has earned an average recommendation of “Hold” from the fourteen analysts that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $26.4167.

A number of analysts recently weighed in on the stock. Mizuho upped their price target on shares of Magnolia Oil & Gas from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Piper Sandler upped their target price on Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Magnolia Oil & Gas in a research note on Wednesday, October 8th. William Blair began coverage on Magnolia Oil & Gas in a research report on Monday, August 25th. They set an “outperform” rating on the stock. Finally, KeyCorp set a $29.00 price target on Magnolia Oil & Gas and gave the stock an “overweight” rating in a report on Wednesday, October 15th.

Hedge Funds Weigh In On Magnolia Oil & Gas

A number of institutional investors have recently added to or reduced their stakes in MGY. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Magnolia Oil & Gas by 236.2% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company’s stock valued at $27,000 after acquiring an additional 836 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Magnolia Oil & Gas in the second quarter worth about $30,000. Mather Group LLC. purchased a new position in Magnolia Oil & Gas in the third quarter valued at about $31,000. EverSource Wealth Advisors LLC grew its stake in Magnolia Oil & Gas by 165.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after purchasing an additional 864 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in Magnolia Oil & Gas by 90.5% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company’s stock valued at $50,000 after purchasing an additional 1,051 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Up 2.6%

MGY opened at $21.98 on Wednesday. Magnolia Oil & Gas has a 1 year low of $19.09 and a 1 year high of $29.02. The firm has a 50 day moving average price of $23.55 and a 200 day moving average price of $23.16. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market cap of $4.19 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 2.89 and a beta of 1.18.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.41. Magnolia Oil & Gas had a net margin of 25.90% and a return on equity of 18.10%. The company had revenue of $324.94 million during the quarter, compared to the consensus estimate of $322.52 million. During the same period in the previous year, the firm earned $0.52 earnings per share. Magnolia Oil & Gas’s revenue for the quarter was down 2.5% on a year-over-year basis. Sell-side analysts expect that Magnolia Oil & Gas will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 10th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Monday, November 10th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 33.52%.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.