Brokerages Set Magnolia Oil & Gas Co. (NYSE:MGY) Target Price at $27.58

Shares of Magnolia Oil & Gas Co. (NYSE:MGY - Get Free Report) have been given a consensus recommendation of "Hold" by the fourteen analysts that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $27.58.

A number of equities research analysts recently weighed in on MGY shares. Mizuho raised their price target on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a "neutral" rating in a report on Monday, December 16th. Truist Financial raised their price target on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a "buy" rating in a report on Monday, January 13th. Piper Sandler raised their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Bank of America restated a "neutral" rating and issued a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Finally, The Goldman Sachs Group cut Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $27.00 to $26.00 in a research note on Friday, January 31st.

Magnolia Oil & Gas Stock Performance

MGY traded down $1.31 on Friday, hitting $22.11. 1,546,156 shares of the stock traded hands, compared to its average volume of 2,022,875. The business has a fifty day moving average price of $24.20 and a two-hundred day moving average price of $25.20. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas has a 52 week low of $22.17 and a 52 week high of $29.02. The firm has a market capitalization of $4.34 billion, a PE ratio of 11.47, a P/E/G ratio of 3.01 and a beta of 1.98.

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Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The business had revenue of $326.61 million during the quarter, compared to the consensus estimate of $327.40 million. On average, research analysts predict that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $0.15 dividend. The ex-dividend date is Friday, February 14th. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 2.71%. Magnolia Oil & Gas's dividend payout ratio is 31.09%.

Hedge Funds Weigh In On Magnolia Oil & Gas

Several hedge funds and other institutional investors have recently modified their holdings of MGY. First Horizon Advisors Inc. increased its stake in shares of Magnolia Oil & Gas by 64.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock worth $25,000 after acquiring an additional 396 shares in the last quarter. Albert D Mason Inc. grew its position in shares of Magnolia Oil & Gas by 0.7% during the fourth quarter. Albert D Mason Inc. now owns 61,497 shares of the company's stock worth $1,438,000 after purchasing an additional 411 shares in the last quarter. Isthmus Partners LLC raised its holdings in shares of Magnolia Oil & Gas by 5.2% during the 4th quarter. Isthmus Partners LLC now owns 9,320 shares of the company's stock worth $218,000 after acquiring an additional 460 shares in the last quarter. OneDigital Investment Advisors LLC boosted its stake in Magnolia Oil & Gas by 3.0% during the fourth quarter. OneDigital Investment Advisors LLC now owns 15,768 shares of the company's stock worth $369,000 after buying an additional 464 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Magnolia Oil & Gas by 2.2% during the third quarter. Jennison Associates LLC now owns 23,836 shares of the company's stock valued at $582,000 after purchasing an additional 506 shares during the period. Hedge funds and other institutional investors own 94.73% of the company's stock.

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.