Brokerages Set Magnolia Oil & Gas Co. (NYSE:MGY) Price Target at $26.93

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have been given an average recommendation of “Hold” by the fourteen research firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $26.85.

A number of brokerages have weighed in on MGY. Bank of America lifted their price objective on Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, May 23rd. JPMorgan Chase & Co. lowered their price target on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. UBS Group started coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, April 22nd. They set a “buy” rating and a $26.00 price target on the stock. Susquehanna lowered their price target on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Finally, Piper Sandler lowered their price target on shares of Magnolia Oil & Gas from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th.

Institutional Trading of Magnolia Oil & Gas

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mather Group LLC. increased its holdings in shares of Magnolia Oil & Gas by 100.0% during the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock worth $25,000 after buying an additional 545 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Magnolia Oil & Gas by 1.1% during the 4th quarter. State of Alaska Department of Revenue now owns 108,570 shares of the company’s stock worth $2,538,000 after buying an additional 1,195 shares during the last quarter. Vest Financial LLC increased its holdings in shares of Magnolia Oil & Gas by 39.0% during the 4th quarter. Vest Financial LLC now owns 1,521,004 shares of the company’s stock worth $35,561,000 after buying an additional 426,572 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Magnolia Oil & Gas by 4.5% during the 4th quarter. Empowered Funds LLC now owns 60,114 shares of the company’s stock worth $1,405,000 after buying an additional 2,591 shares during the last quarter. Finally, Entropy Technologies LP raised its holdings in Magnolia Oil & Gas by 118.3% in the fourth quarter. Entropy Technologies LP now owns 26,503 shares of the company’s stock valued at $620,000 after buying an additional 14,365 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

Shares of NYSE:MGY opened at $23.59 on Friday. The company has a 50-day simple moving average of $21.66 and a 200-day simple moving average of $23.48. Magnolia Oil & Gas has a one year low of $19.09 and a one year high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 3.01 and a beta of 1.29.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The firm had revenue of $350.30 million during the quarter, compared to the consensus estimate of $337.83 million. During the same period last year, the company earned $0.46 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, analysts predict that Magnolia Oil & Gas will post 2.1 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 12th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.54%. The ex-dividend date was Monday, May 12th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 29.85%.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.