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 eleven research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $28.60.

Several research firms have recently issued reports on MGY. Truist Financial raised their price target on shares of Magnolia Oil & Gas from $34.00 to $35.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Capital One Financial began coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, June 11th. They set an "overweight" rating and a $28.00 price target for the company. Mizuho raised their price target on shares of Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, May 13th. Bank of America raised their price target on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a "buy" rating in a research note on Tuesday, July 23rd. Finally, Piper Sandler dropped 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 note on Thursday, August 15th.

Magnolia Oil & Gas Price Performance

NYSE:MGY traded down $0.43 on Friday, hitting $23.57. The company had a trading volume of 1,799,835 shares, compared to its average volume of 2,646,208. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 1.22 and a beta of 2.02. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average of $25.47 and a two-hundred day moving average of $25.09. Magnolia Oil & Gas has a 52 week low of $19.16 and a 52 week high of $27.63.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.51 by $0.05. The business had revenue of $336.73 million during the quarter, compared to the consensus estimate of $340.72 million. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. On average, research analysts anticipate that Magnolia Oil & Gas will post 2.13 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Friday, August 9th. Magnolia Oil & Gas's payout ratio is 25.87%.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of large investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new stake in Magnolia Oil & Gas in the second quarter worth $428,000. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Magnolia Oil & Gas by 92.6% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 121,882 shares of the company's stock valued at $3,088,000 after buying an additional 58,585 shares during the last quarter. Creative Planning grew its holdings in shares of Magnolia Oil & Gas by 21.3% during the second quarter. Creative Planning now owns 63,589 shares of the company's stock valued at $1,611,000 after buying an additional 11,160 shares during the last quarter. Algert Global LLC acquired a new position in shares of Magnolia Oil & Gas during the second quarter valued at about $442,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Magnolia Oil & Gas by 0.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,647,897 shares of the company's stock valued at $41,758,000 after buying an additional 11,877 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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.