Magnolia Oil & Gas Corp (NYSE:MGY) Receives $26.25 Consensus PT from Analysts

Magnolia Oil & Gas Corp (NYSE:MGY) has earned an average recommendation of “Hold” from the fourteen brokerages that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $26.25.

Several equities analysts recently commented on the company. Piper Sandler dropped their target price on Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, November 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Magnolia Oil & Gas in a report on Wednesday, October 8th. Mizuho raised their target price on Magnolia Oil & Gas from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. KeyCorp set a $29.00 price target on Magnolia Oil & Gas and gave the company an “overweight” rating in a report on Wednesday, October 15th. Finally, William Blair assumed coverage on shares of Magnolia Oil & Gas in a report on Monday, August 25th. They set an “outperform” rating on the stock.

Hedge Funds Weigh In On Magnolia Oil & Gas

Hedge funds have recently made changes to their positions in the company. State of Wyoming boosted its position in shares of Magnolia Oil & Gas by 8.2% in the 1st quarter. State of Wyoming now owns 5,777 shares of the company’s stock valued at $146,000 after purchasing an additional 440 shares during the period. Vista Finance LLC lifted its stake in Magnolia Oil & Gas by 4.0% in the second quarter. Vista Finance LLC now owns 12,134 shares of the company’s stock valued at $273,000 after buying an additional 471 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of Magnolia Oil & Gas by 3.1% in the third quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company’s stock valued at $380,000 after acquiring an additional 482 shares during the period. ProShare Advisors LLC grew its position in shares of Magnolia Oil & Gas by 1.2% during the second quarter. ProShare Advisors LLC now owns 41,617 shares of the company’s stock worth $936,000 after acquiring an additional 495 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Magnolia Oil & Gas by 13.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,284 shares of the company’s stock valued at $102,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Down 2.5%

MGY stock opened at $22.94 on Friday. Magnolia Oil & Gas has a fifty-two week low of $19.09 and a fifty-two week high of $27.69. The company’s 50 day moving average price is $23.08 and its 200 day moving average price is $23.33. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 3.16 and a beta of 0.93.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.41 EPS for the quarter, meeting analysts’ consensus estimates of $0.41. The company had revenue of $324.94 million for the quarter, compared to the consensus estimate of $322.52 million. Magnolia Oil & Gas had a net margin of 25.90% and a return on equity of 18.10%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 EPS. On average, equities research analysts anticipate that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 10th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.60 dividend on an annualized basis and a yield of 2.6%. Magnolia Oil & Gas’s payout ratio is 33.52%.

About Magnolia Oil & Gas

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.