Brokerages Set Magnolia Oil & Gas Co. (NYSE:MGY) Target Price at $28.60

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have earned a consensus rating of “Hold” from the eleven brokerages that are currently covering the firm, MarketBeat.com reports. One 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. The average 12-month price objective among brokerages that have covered the stock in the last year is $28.60.

MGY has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their target price on Magnolia Oil & Gas from $27.00 to $26.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Piper Sandler decreased their price objective on Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Capital One Financial started coverage on Magnolia Oil & Gas in a report on Tuesday, June 11th. They set an “overweight” rating and a $28.00 price objective on the stock. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a report on Thursday, July 18th. Finally, Susquehanna decreased their price objective on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th.

Magnolia Oil & Gas Stock Performance

MGY opened at $23.17 on Friday. The firm has a market capitalization of $4.61 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 1.12 and a beta of 2.00. The stock’s 50 day moving average price is $25.39 and its two-hundred day moving average price is $25.17. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas has a 12-month low of $19.16 and a 12-month high of $27.63.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The firm had revenue of $336.73 million for the quarter, compared to analyst estimates of $340.72 million. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. On average, equities analysts forecast that Magnolia Oil & Gas will post 2.13 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Friday, August 9th. Magnolia Oil & Gas’s dividend payout ratio is 25.87%.

Institutional Trading of Magnolia Oil & Gas

Several institutional investors have recently bought and sold shares of MGY. Mather Group LLC. bought a new position in Magnolia Oil & Gas in the 1st quarter valued at $27,000. Massmutual Trust Co. FSB ADV raised its position in Magnolia Oil & Gas by 1,753.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock valued at $26,000 after purchasing an additional 982 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in Magnolia Oil & Gas in the 2nd quarter valued at $26,000. Private Wealth Management Group LLC bought a new position in Magnolia Oil & Gas in the 4th quarter valued at $33,000. Finally, GAMMA Investing LLC raised its position 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 worth $41,000 after acquiring an additional 1,042 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.