Truist Financial Issues Positive Forecast for Magnolia Oil & Gas (NYSE:MGY) Stock Price

Magnolia Oil & Gas (NYSE:MGY - Free Report) had its target price lifted by Truist Financial from $31.00 to $33.00 in a research report report published on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other equities analysts have also commented on the stock. Wells Fargo & Company lowered shares of Magnolia Oil & Gas from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $26.00 to $22.00 in a research report on Tuesday, October 1st. Piper Sandler reduced their price target on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Thursday, August 15th. Wolfe Research assumed coverage on Magnolia Oil & Gas in a research report on Thursday, July 18th. They issued an "outperform" rating and a $32.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on Magnolia Oil & Gas from $26.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, September 12th. Finally, Benchmark reaffirmed a "hold" rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $27.67.

Magnolia Oil & Gas Stock Performance

MGY traded down $0.30 on Friday, hitting $24.98. The company's stock had a trading volume of 1,773,159 shares, compared to its average volume of 2,551,911. Magnolia Oil & Gas has a 12 month low of $19.16 and a 12 month high of $27.63. The firm has a market cap of $4.97 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 1.30 and a beta of 1.99. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21. The company's 50 day simple moving average is $25.32 and its 200-day simple moving average is $25.37.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. The company had revenue of $333.14 million for the quarter, compared to analyst estimates of $331.45 million. Magnolia Oil & Gas had a return on equity of 20.94% and a net margin of 28.88%. Analysts forecast that Magnolia Oil & Gas will post 1.99 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Friday, November 8th. Magnolia Oil & Gas's payout ratio is currently 25.74%.

Insider Transactions at Magnolia Oil & Gas

In related news, Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction dated 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 directly owns 2,099,403 shares of the company's stock, valued at $54,290,561.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new stake in shares of Magnolia Oil & Gas during the third quarter valued at approximately $25,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Magnolia Oil & Gas by 1,753.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company's stock worth $26,000 after purchasing an additional 982 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Magnolia Oil & Gas during the second quarter valued at $26,000. GAMMA Investing LLC lifted its holdings 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 valued at $41,000 after purchasing an additional 1,042 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in Magnolia Oil & Gas in the 1st quarter worth about $50,000. 94.73% of the stock is owned by hedge funds and other institutional investors.

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.