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

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have been assigned a consensus recommendation of “Hold” from the twelve analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $27.64.

Several brokerages have recently issued reports on MGY. Piper Sandler decreased their target price on 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. Susquehanna decreased their price objective 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. Mizuho dropped their target price on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. JPMorgan Chase & Co. decreased their price target on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Finally, Capital One Financial assumed 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 objective on the stock.

Insider Transactions at Magnolia Oil & Gas

In related news, Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction that occurred 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 owns 2,099,403 shares in the company, valued at $54,290,561.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Magnolia Oil & Gas

Several hedge funds and other institutional investors have recently modified their holdings of the company. Nordea Investment Management AB boosted its holdings in shares of Magnolia Oil & Gas by 37.1% in the first quarter. Nordea Investment Management AB now owns 521,702 shares of the company’s stock worth $13,387,000 after buying an additional 141,046 shares during the last quarter. Maryland State Retirement & Pension System purchased a new position in Magnolia Oil & Gas during the first quarter valued at $1,721,000. Texas Permanent School Fund Corp bought a new stake in Magnolia Oil & Gas during the first quarter valued at about $4,207,000. Vanguard Group Inc. increased its position in Magnolia Oil & Gas by 16.6% in the first 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 in the last quarter. Finally, Wasatch Advisors LP raised its stake 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 worth $78,331,000 after buying an additional 77,733 shares during the period. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $24.42 on Tuesday. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 1.21 and a beta of 2.00. The stock has a fifty day moving average of $24.94 and a 200 day moving average of $25.32. Magnolia Oil & Gas has a 52 week low of $19.16 and a 52 week high of $27.63. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.51 by $0.05. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. The firm had revenue of $336.73 million during the quarter, compared to analysts’ expectations of $340.72 million. As a group, research analysts expect that Magnolia Oil & Gas will post 2.04 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Friday, August 9th. Magnolia Oil & Gas’s dividend payout ratio is currently 25.87%.

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.