Magnolia Oil & Gas Corp (NYSE:MGY) Stock Has Average Price Target of $31.53

Magnolia Oil & Gas Corp (NYSE:MGY) has earned an average rating of “Moderate Buy” from the nineteen analysts that are currently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $31.53.

Several equities analysts have recently commented on MGY shares. Wells Fargo & Company lowered their target price on Magnolia Oil & Gas from $36.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, October 14th. UBS Group set a $35.00 target price on Magnolia Oil & Gas in a research report on Thursday, October 15th. Siebert Williams Shank upgraded shares of Magnolia Oil & Gas from a “hold” rating to a “buy” rating and increased their target price for the stock from $30.00 to $32.00 in a research report on Wednesday, September 23rd. Williams Trading set a $32.00 price target on Magnolia Oil & Gas in a report on Wednesday, September 23rd. Finally, Wall Street Zen cut shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a report on Saturday, October 17th.

Insider Buying and Selling at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director David Khani bought 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average price of $25.00 per share, for a total transaction of $200,000.00. Following the purchase, the director directly owned 30,622 shares in the company, valued at $765,550. This trade represents a 35.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MGY. Dimensional Fund Advisors LP lifted its position in shares of Magnolia Oil & Gas by 5.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,028,781 shares of the company’s stock worth $221,910,000 after acquiring an additional 394,419 shares during the period. Janus Henderson Group PLC raised its position in shares of Magnolia Oil & Gas by 2.8% in the 1st quarter. Janus Henderson Group PLC now owns 6,279,636 shares of the company’s stock valued at $198,248,000 after acquiring an additional 170,174 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Magnolia Oil & Gas by 790.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,263,808 shares of the company’s stock valued at $197,748,000 after purchasing an additional 5,560,619 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Magnolia Oil & Gas by 20.5% in the 1st quarter. Bank of America Corp DE now owns 3,877,361 shares of the company’s stock valued at $122,408,000 after purchasing an additional 659,012 shares during the period. Finally, Stephens Investment Management Group LLC increased its position in shares of Magnolia Oil & Gas by 0.8% in the first quarter. Stephens Investment Management Group LLC now owns 2,172,120 shares of the company’s stock valued at $68,574,000 after acquiring an additional 17,541 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

Shares of MGY opened at $26.15 on Wednesday. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 11.47 and a beta of 0.80. The business’s 50 day moving average is $25.81 and its two-hundred day moving average is $26.80. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.18. Magnolia Oil & Gas has a 52-week low of $21.07 and a 52-week high of $32.76.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. Magnolia Oil & Gas had a return on equity of 21.04% and a net margin of 28.77%. The business had revenue of $478.81 million during the quarter, compared to the consensus estimate of $458.10 million. During the same period last year, the firm earned $0.41 earnings per share. The company’s revenue for the quarter was up 50.1% compared to the same quarter last year. Analysts forecast that Magnolia Oil & Gas will post 2.83 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 10th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.72 dividend on an annualized basis and a yield of 2.8%. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.1650. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 31.58%.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corporation (NYSE: MGY) is an independent oil and natural gas exploration and production company focused on developing assets in South Texas. Its operations are concentrated in the Eagle Ford Shale and Austin Chalk formations, where it owns and operates a substantial acreage position.

The company produces crude oil, condensate, natural gas liquids and natural gas. Magnolia uses horizontal drilling and hydraulic fracturing technologies to develop unconventional reserves, with activity primarily centered in the Karnes and Giddings areas of South Texas.

Magnolia Oil & Gas was formed in 2017 through a business combination involving Silver Run Acquisition Corporation II and certain oil and gas assets previously associated with TGP Investments.