Magnolia Oil & Gas (NYSE:MGY) Price Target Raised to $28.00 at Mizuho

Magnolia Oil & Gas (NYSE:MGY - Free Report) had its price objective hoisted by Mizuho from $27.00 to $28.00 in a report issued on Monday,Benzinga reports. Mizuho currently has a neutral rating on the stock.

Several other research analysts have also recently weighed in on MGY. Truist Financial increased their price target 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. JPMorgan Chase & Co. lowered their target price on Magnolia Oil & Gas from $26.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, September 12th. Siebert Williams Shank downgraded Magnolia Oil & Gas from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a research note on Tuesday, October 15th. Benchmark reiterated a "hold" rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company cut shares of Magnolia Oil & Gas from an "equal weight" rating to an "underweight" rating and reduced their target price for the company from $26.00 to $22.00 in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Magnolia Oil & Gas has an average rating of "Hold" and a consensus price target of $27.75.

Magnolia Oil & Gas Stock Performance

NYSE:MGY traded down $0.74 on Monday, hitting $24.60. The company's stock had a trading volume of 2,651,408 shares, compared to its average volume of 2,437,647. Magnolia Oil & Gas has a one year low of $19.16 and a one year high of $29.02. The firm has a market capitalization of $4.84 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 1.29 and a beta of 1.99. The stock has a fifty day moving average of $26.60 and a two-hundred day moving average of $25.65. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted 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 for the quarter, compared to analysts' expectations of $331.45 million. Research analysts predict that Magnolia Oil & Gas will post 2 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors 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 annualized dividend and a dividend yield of 2.11%. Magnolia Oil & Gas's dividend payout ratio is 25.74%.

Insider Activity

In related news, Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were 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 of the company's stock, valued at $54,290,561.58. This 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. Corporate insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new stake in shares of Magnolia Oil & Gas during the third quarter valued at about $25,000. First Horizon Advisors Inc. increased its holdings in Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock valued at $25,000 after purchasing an additional 396 shares during the period. GAMMA Investing LLC raised its position in Magnolia Oil & Gas by 62.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,609 shares of the company's stock worth $64,000 after purchasing an additional 1,002 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Magnolia Oil & Gas by 61.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company's stock worth $72,000 after buying an additional 1,090 shares during the period. Finally, Covestor Ltd grew its position in shares of Magnolia Oil & Gas by 36.8% in the 3rd quarter. Covestor Ltd now owns 2,986 shares of the company's stock valued at $73,000 after buying an additional 804 shares during the last quarter. Institutional investors 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.