Magnolia Oil & Gas (NYSE:MGY) Price Target Lowered to $19.00 at Citigroup

Magnolia Oil & Gas (NYSE:MGY) had its target price decreased by Citigroup from $22.00 to $19.00 in a research note released on Tuesday morning,Benzinga reports. Citigroup currently has a sell rating on the stock.

Several other research firms also recently weighed in on MGY. Truist Financial lifted their price target on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Bank of America reaffirmed a “neutral” rating and issued a $28.00 target price (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. The Goldman Sachs Group lowered Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and cut their price target for the stock from $27.00 to $26.00 in a report on Friday, January 31st. Williams Trading set a $29.00 price objective on Magnolia Oil & Gas in a report on Wednesday, March 5th. Finally, Johnson Rice cut Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $27.54.

Magnolia Oil & Gas Trading Down 9.4 %

NYSE MGY opened at $20.04 on Tuesday. The firm has a market capitalization of $3.89 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57. The business’s 50-day moving average price is $23.45 and its two-hundred day moving average price is $24.88. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas has a 12 month low of $19.09 and a 12 month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The business had revenue of $326.61 million during the quarter, compared to the consensus estimate of $327.40 million. On average, analysts expect that Magnolia Oil & Gas will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 annualized dividend and a yield of 2.99%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s payout ratio is 31.09%.

Insider Transactions at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros bought 2,500 shares of the stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the purchase, the chief executive officer now directly owns 892,372 shares in the company, valued at $19,676,802.60. This trade represents a 0.28 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Magnolia Oil & Gas

A number of hedge funds have recently made changes to their positions in MGY. Vanguard Group Inc. lifted its holdings in shares of Magnolia Oil & Gas by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company’s stock valued at $489,535,000 after purchasing an additional 452,836 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Magnolia Oil & Gas by 24.6% during the 4th quarter. First Trust Advisors LP now owns 15,410,496 shares of the company’s stock valued at $360,297,000 after acquiring an additional 3,038,709 shares during the last quarter. State Street Corp grew its stake in shares of Magnolia Oil & Gas by 4.2% in the third quarter. State Street Corp now owns 10,700,257 shares of the company’s stock worth $261,300,000 after acquiring an additional 435,326 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Magnolia Oil & Gas by 11.7% during the fourth quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company’s stock valued at $149,559,000 after purchasing an additional 667,973 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Magnolia Oil & Gas by 0.5% during the fourth quarter. Wellington Management Group LLP now owns 5,020,646 shares of the company’s stock valued at $117,383,000 after purchasing an additional 26,943 shares during the period. 94.73% of the stock is owned by institutional investors.

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.