Magnolia Oil & Gas Co. (NYSE:MGY) Given Average Rating of “Hold” by Brokerages

Magnolia Oil & Gas Co. (NYSE:MGY) has received a consensus recommendation of “Hold” from the thirteen analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $27.67.

A number of equities research analysts recently weighed in on MGY shares. Siebert Williams Shank downgraded Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research report on Tuesday, October 15th. JPMorgan Chase & Co. lowered their price target on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Mizuho lowered their price target on Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Wells Fargo & Company downgraded Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $26.00 to $22.00 in a report on Tuesday, October 1st. Finally, Susquehanna lowered their price target on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a report on Wednesday, September 4th.

Insider Buying and Selling at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following 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 76.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several hedge funds have recently made changes to their positions in the stock. First Horizon Advisors Inc. lifted its stake in Magnolia Oil & Gas by 64.7% during the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after purchasing an additional 396 shares during the period. Jennison Associates LLC raised its stake in shares of Magnolia Oil & Gas by 2.2% in the third quarter. Jennison Associates LLC now owns 23,836 shares of the company’s stock valued at $582,000 after acquiring an additional 506 shares during the last quarter. Atria Investments Inc raised its stake in shares of Magnolia Oil & Gas by 2.3% in the third quarter. Atria Investments Inc now owns 23,576 shares of the company’s stock valued at $576,000 after acquiring an additional 523 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Magnolia Oil & Gas by 1.0% in the third quarter. PNC Financial Services Group Inc. now owns 52,834 shares of the company’s stock valued at $1,290,000 after acquiring an additional 548 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Magnolia Oil & Gas by 1.8% in the second quarter. Bank of Montreal Can now owns 36,716 shares of the company’s stock valued at $931,000 after acquiring an additional 640 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

NYSE:MGY opened at $28.79 on Wednesday. The stock’s fifty day moving average is $26.14 and its 200 day moving average is $25.52. Magnolia Oil & Gas has a fifty-two week low of $19.16 and a fifty-two week high of $29.02. The firm has a market capitalization of $5.66 billion, a PE ratio of 14.25, a PEG ratio of 1.44 and a beta of 1.99. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $333.14 million for the quarter, compared to analyst estimates of $331.45 million. On average, sell-side analysts anticipate that Magnolia Oil & Gas will post 1.99 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Friday, November 8th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.74%.

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.