Magnolia Oil & Gas Co. (NYSE:MGY) Receives Consensus Rating of “Hold” from Analysts

Magnolia Oil & Gas Co. (NYSE:MGY) has been assigned an average rating of “Hold” from the ten brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $28.11.

MGY has been the topic of several analyst reports. Citigroup boosted their target price on Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a research report on Monday, April 15th. Wells Fargo & Company boosted their price objective on Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Bank of America began coverage on Magnolia Oil & Gas in a report on Tuesday, February 27th. They set a “buy” rating and a $25.00 price objective for the company. Capital One Financial began coverage on Magnolia Oil & Gas in a report on Tuesday, June 11th. They set an “overweight” rating and a $28.00 price objective for the company. Finally, The Goldman Sachs Group boosted their price objective on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a report on Tuesday, March 26th.

Magnolia Oil & Gas Stock Performance

NYSE MGY opened at $24.88 on Friday. The company has a market cap of $5.04 billion, a P/E ratio of 12.38, a P/E/G ratio of 1.40 and a beta of 2.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.71 and a current ratio of 1.71. The business’s 50 day moving average price is $25.28 and its 200-day moving average price is $23.37. Magnolia Oil & Gas has a fifty-two week low of $19.16 and a fifty-two week high of $27.33.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Tuesday, May 7th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. The firm had revenue of $319.42 million for the quarter, compared to the consensus estimate of $308.21 million. Magnolia Oil & Gas had a return on equity of 20.41% and a net margin of 30.46%. Sell-side analysts predict that Magnolia Oil & Gas will post 2.25 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Friday, May 10th. Magnolia Oil & Gas’s dividend payout ratio is 25.87%.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, Director John B. Walker sold 12,000,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $25.58, for a total value of $306,960,000.00. Following the completion of the sale, the director now directly owns 4,164,961 shares in the company, valued at approximately $106,539,702.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Magnolia Oil & Gas

Hedge funds have recently made changes to their positions in the company. 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 purchasing an additional 2,956,314 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Magnolia Oil & Gas by 2,799.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,881,039 shares of the company’s stock worth $48,813,000 after purchasing an additional 1,816,158 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Magnolia Oil & Gas by 20.2% during the 4th quarter. First Trust Advisors LP now owns 10,126,891 shares of the company’s stock worth $215,602,000 after purchasing an additional 1,704,982 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Magnolia Oil & Gas by 24.7% during the 3rd quarter. American Century Companies Inc. now owns 6,009,953 shares of the company’s stock worth $137,688,000 after purchasing an additional 1,188,536 shares during the last quarter. Finally, Ranger Investment Management L.P. purchased a new stake in shares of Magnolia Oil & Gas during the 4th quarter worth $25,226,000. 94.73% of the stock is currently 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.