Magnolia Oil & Gas (NYSE:MGY) Receives “Neutral” Rating from Bank of America

Bank of America restated their neutral rating on shares of Magnolia Oil & Gas (NYSE:MGY) in a research report report published on Monday, MarketBeat.com reports. The brokerage currently has a $28.00 price target on the stock, down from their prior price target of $29.00.

Several other research analysts have also recently commented on the stock. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Mizuho raised their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Siebert Williams Shank cut shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a report on Tuesday, October 15th. Truist Financial raised their price target on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Piper Sandler decreased their price target on shares of Magnolia Oil & Gas from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.58.

Magnolia Oil & Gas Stock Up 2.2 %

MGY stock opened at $25.42 on Monday. The stock has a market cap of $5.00 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 1.29 and a beta of 2.00. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. The firm’s 50-day simple moving average is $25.64 and its 200 day simple moving average is $25.50. Magnolia Oil & Gas has a fifty-two week low of $19.16 and a fifty-two week high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. The firm had revenue of $333.14 million for the quarter, compared to analysts’ expectations of $331.45 million. As a group, sell-side analysts predict that Magnolia Oil & Gas will post 2 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Friday, November 8th. Magnolia Oil & Gas’s payout ratio is 25.74%.

Institutional Trading of Magnolia Oil & Gas

Large investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. acquired a new stake in Magnolia Oil & Gas in the third quarter valued at about $25,000. First Horizon Advisors Inc. boosted its stake in Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock valued at $25,000 after buying an additional 396 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Magnolia Oil & Gas by 62.4% during the third quarter. GAMMA Investing LLC now owns 2,609 shares of the company’s stock valued at $64,000 after purchasing an additional 1,002 shares in the last quarter. Covestor Ltd boosted its stake in shares of Magnolia Oil & Gas by 36.8% during the third quarter. Covestor Ltd now owns 2,986 shares of the company’s stock valued at $73,000 after purchasing an additional 804 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new stake in shares of Magnolia Oil & Gas during the third quarter valued at about $90,000. 94.73% of the stock is 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.