Magnolia Oil & Gas Co. (NYSE:MGY) Given Average Rating of "Hold" by Analysts

Magnolia Oil & Gas Co. (NYSE:MGY - Get Free Report) has been given an average rating of "Hold" by the thirteen research firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $27.67.

A number of research analysts have recently issued reports on MGY shares. Mizuho reduced their price target on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a "neutral" rating on the stock in a research report on Monday, September 16th. Bank of America lifted their target price on Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a "buy" rating in a research note on Tuesday, July 23rd. Benchmark reiterated a "hold" rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Susquehanna reduced their price objective on Magnolia Oil & Gas from $33.00 to $32.00 and set a "positive" rating for the company in a research report on Wednesday, September 4th. Finally, Piper Sandler cut their target price on Magnolia Oil & Gas from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Thursday, August 15th.

Magnolia Oil & Gas Stock Up 1.5 %

NYSE:MGY traded up $0.42 during mid-day trading on Wednesday, reaching $27.71. The stock had a trading volume of 972,955 shares, compared to its average volume of 2,485,430. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 1.37 and a beta of 1.99. Magnolia Oil & Gas has a 1-year low of $19.16 and a 1-year high of $27.96. The stock's 50 day simple moving average is $25.86 and its two-hundred day simple moving average is $25.46.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The business had revenue of $333.14 million during the quarter, compared to the consensus estimate of $331.45 million. Equities analysts anticipate that Magnolia Oil & Gas will post 1.99 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a dividend of $0.13 per share. The ex-dividend date is Friday, November 8th. This represents a $0.52 annualized dividend and a yield of 1.88%. Magnolia Oil & Gas's payout ratio 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 completion of the transaction, the director now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.40% of the company's stock.

Institutional Trading of Magnolia Oil & Gas

Several large investors have recently added to or reduced their stakes in MGY. Vanguard Group Inc. increased its holdings in Magnolia Oil & Gas by 16.6% in the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company's stock worth $538,654,000 after buying an additional 2,956,314 shares during the last quarter. State Street Corp increased its stake in shares of Magnolia Oil & Gas by 4.2% in the third quarter. State Street Corp now owns 10,700,257 shares of the company's stock worth $261,300,000 after purchasing an additional 435,326 shares during the period. American Century Companies Inc. grew its stake in shares of Magnolia Oil & Gas by 9.9% in the second quarter. American Century Companies Inc. now owns 9,389,368 shares of the company's stock worth $237,927,000 after acquiring an additional 847,542 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Magnolia Oil & Gas by 16.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company's stock worth $114,554,000 after purchasing an additional 627,933 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Magnolia Oil & Gas by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,107,769 shares of the company's stock valued at $100,332,000 after acquiring an additional 116,431 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

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.