Magnolia Oil & Gas (NYSE:MGY) Price Target Cut to $27.00

Magnolia Oil & Gas (NYSE:MGY - Free Report) had its price target trimmed by Mizuho from $28.00 to $27.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other brokerages also recently commented on MGY. Wolfe Research assumed coverage on shares of Magnolia Oil & Gas in a report on Thursday, July 18th. They set an outperform rating and a $32.00 target price on the stock. Benchmark reaffirmed a hold rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 18th. Susquehanna dropped their price target on Magnolia Oil & Gas from $33.00 to $32.00 and set a positive rating on the stock in a research note on Wednesday, September 4th. Wells Fargo & Company reduced their price objective on Magnolia Oil & Gas from $27.00 to $26.00 and set an equal weight rating for the company in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. dropped their target price on Magnolia Oil & Gas from $26.00 to $23.00 and set a neutral rating on the stock in a research report on Thursday. One analyst has 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, the stock presently has an average rating of Hold and a consensus price target of $28.00.

Magnolia Oil & Gas Trading Up 1.6 %

MGY traded up $0.37 during trading on Monday, reaching $24.21. 1,671,860 shares of the company's stock were exchanged, compared to its average volume of 2,615,339. The company's fifty day moving average price is $25.19 and its 200-day moving average price is $25.22. The firm has a market capitalization of $4.82 billion, a PE ratio of 12.04, a P/E/G ratio of 1.12 and a beta of 2.00. Magnolia Oil & Gas has a fifty-two week low of $19.16 and a fifty-two week high of $27.63. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.28 and a current ratio of 1.28.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.05. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. The business had revenue of $336.73 million during the quarter, compared to analysts' expectations of $340.72 million. As a group, equities analysts forecast that Magnolia Oil & Gas will post 2.13 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.52 annualized dividend and a dividend yield of 2.15%. Magnolia Oil & Gas's dividend payout ratio is presently 25.87%.

Institutional Trading of Magnolia Oil & Gas

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Magnolia Oil & Gas by 16.6% during the 1st 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. First Trust Advisors LP raised its holdings in Magnolia Oil & Gas by 20.2% in the 4th quarter. First Trust Advisors LP now owns 10,126,891 shares of the company's stock valued at $215,602,000 after acquiring an additional 1,704,982 shares during the period. American Century Companies Inc. lifted its position in Magnolia Oil & Gas by 9.9% during 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 boosted its holdings in shares of Magnolia Oil & Gas by 16.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company's stock worth $114,554,000 after acquiring an additional 627,933 shares during the period. Finally, Wasatch Advisors LP grew its position in shares of Magnolia Oil & Gas by 2.2% in the fourth quarter. Wasatch Advisors LP now owns 3,679,262 shares of the company's stock valued at $78,331,000 after purchasing an additional 77,733 shares during the last quarter. Institutional investors own 94.73% of the company's stock.

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.