Magnolia Oil & Gas Co. (NYSE:MGY) Receives $27.67 Consensus PT from Brokerages

Magnolia Oil & Gas Co. (NYSE:MGY - Get Free Report) has been assigned a consensus rating of "Hold" from the thirteen analysts that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $27.67.

A number of research analysts have issued reports on the stock. Susquehanna decreased their target price on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a "positive" rating on the stock in a research report on Wednesday, September 4th. Mizuho dropped their price objective on Magnolia Oil & Gas from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Monday, September 16th. Benchmark reissued a "hold" rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Wells Fargo & Company cut Magnolia Oil & Gas from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $26.00 to $22.00 in a research report on Tuesday, October 1st. Finally, Truist Financial raised their target price on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a "buy" rating in a report on Friday, November 1st.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock traded down $0.37 during trading on Friday, reaching $25.34. 4,122,087 shares of the company's stock were exchanged, compared to its average volume of 1,437,637. Magnolia Oil & Gas has a twelve month low of $19.16 and a twelve month high of $29.02. The firm's fifty day moving average price is $26.60 and its 200-day moving average price is $25.65. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $4.98 billion, a PE ratio of 12.54, a PEG ratio of 1.29 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.04. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. The firm had revenue of $333.14 million for the quarter, compared to analysts' expectations of $331.45 million. As a group, sell-side analysts anticipate that Magnolia Oil & Gas will post 2 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.05%. Magnolia Oil & Gas's dividend payout ratio (DPR) is 25.74%.

Insider Activity

In related news, Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $25.86, for a total value of $181,020,000.00. Following the transaction, the director now directly owns 2,099,403 shares in the company, valued at $54,290,561.58. This trade represents a 76.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by company insiders.

Institutional Trading of Magnolia Oil & Gas

Several institutional investors and hedge funds have recently modified their holdings of MGY. SG Americas Securities LLC grew its position in shares of Magnolia Oil & Gas by 406.1% during the 2nd quarter. SG Americas Securities LLC now owns 31,430 shares of the company's stock valued at $796,000 after acquiring an additional 25,220 shares during the period. Blue Trust Inc. bought a new stake in shares of Magnolia Oil & Gas in the 2nd quarter worth approximately $437,000. Nisa Investment Advisors LLC lifted its stake in shares of Magnolia Oil & Gas by 61.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company's stock valued at $72,000 after acquiring an additional 1,090 shares during the last quarter. Argent Capital Management LLC increased its position in shares of Magnolia Oil & Gas by 56.8% in the second quarter. Argent Capital Management LLC now owns 29,111 shares of the company's stock valued at $738,000 after acquiring an additional 10,547 shares during the period. Finally, AMG National Trust Bank raised its holdings in Magnolia Oil & Gas by 13.7% in the 2nd quarter. AMG National Trust Bank now owns 65,508 shares of the company's stock worth $1,660,000 after purchasing an additional 7,879 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

About Magnolia Oil & Gas

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.