Magnolia Oil & Gas (NYSE:MGY) Hits New 1-Year High – What’s Next?

Magnolia Oil & Gas Corp (NYSE:MGY)’s stock price hit a new 52-week high on Monday . The stock traded as high as $29.10 and last traded at $28.5750, with a volume of 371320 shares changing hands. The stock had previously closed at $27.82.

Wall Street Analyst Weigh In

MGY has been the topic of a number of analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Magnolia Oil & Gas in a research note on Thursday, January 22nd. Susquehanna dropped their target price on shares of Magnolia Oil & Gas from $30.00 to $28.00 and set a “positive” rating on the stock in a research note on Monday, January 26th. Wells Fargo & Company set a $25.00 price target on shares of Magnolia Oil & Gas in a report on Monday, February 16th. Citigroup raised their price target on shares of Magnolia Oil & Gas from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Finally, BMO Capital Markets began coverage on Magnolia Oil & Gas in a research report on Friday, January 9th. They issued an “outperform” rating and a $27.00 price objective on the stock. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.58.

Magnolia Oil & Gas Stock Performance

The business’s fifty day moving average price is $24.60 and its 200-day moving average price is $23.76. The stock has a market cap of $5.30 billion, a PE ratio of 16.53 and a beta of 0.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.54 and a current ratio of 1.54.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. The firm had revenue of $317.63 million during the quarter, compared to analysts’ expectations of $322.18 million. During the same period in the previous year, the company earned $0.44 earnings per share. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, equities research analysts forecast that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th were paid a $0.165 dividend. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, February 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.3%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 38.37%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV purchased a new position in Magnolia Oil & Gas in the fourth quarter worth about $260,000. Caitlin John LLC purchased a new stake in Magnolia Oil & Gas in the 4th quarter worth approximately $329,000. Empowered Funds LLC raised its stake in Magnolia Oil & Gas by 111.4% during the 4th quarter. Empowered Funds LLC now owns 146,186 shares of the company’s stock worth $3,200,000 after acquiring an additional 77,025 shares during the period. XTX Topco Ltd lifted its holdings in Magnolia Oil & Gas by 599.0% during the fourth quarter. XTX Topco Ltd now owns 219,040 shares of the company’s stock valued at $4,795,000 after purchasing an additional 187,703 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its holdings in Magnolia Oil & Gas by 116.4% during the fourth quarter. Voloridge Investment Management LLC now owns 969,487 shares of the company’s stock valued at $21,222,000 after purchasing an additional 521,459 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).