Magnolia Oil & Gas Corp (NYSE:MGY) Given Consensus Rating of “Moderate Buy” by Analysts

Magnolia Oil & Gas Corp (NYSE:MGY) has earned a consensus rating of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $28.90.

A number of research firms have recently issued reports on MGY. Zacks Research upgraded shares of Magnolia Oil & Gas from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. Wells Fargo & Company set a $25.00 price objective on shares of Magnolia Oil & Gas in a research note on Monday, February 16th. Roth Mkm reiterated a “buy” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, February 10th. Piper Sandler boosted their target price on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Mizuho set a $30.00 target price on Magnolia Oil & Gas in a report on Friday, February 6th.

Insider Transactions at Magnolia Oil & Gas

In related news, EVP Timothy D. Yang sold 150,000 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $29.29, for a total value of $4,393,500.00. Following the completion of the sale, the executive vice president directly owned 526,661 shares of the company’s stock, valued at approximately $15,425,900.69. This represents a 22.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dan F. Smith sold 18,000 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $29.01, for a total value of $522,180.00. Following the sale, the director owned 119,204 shares of the company’s stock, valued at $3,458,108.04. The trade was a 13.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 338,954 shares of company stock worth $9,911,733. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its position in Magnolia Oil & Gas by 12.9% in the 2nd quarter. American Century Companies Inc. now owns 11,861,231 shares of the company’s stock worth $266,641,000 after purchasing an additional 1,358,878 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in shares of Magnolia Oil & Gas by 1.9% during the 2nd quarter. TimesSquare Capital Management LLC now owns 691,959 shares of the company’s stock worth $15,555,000 after purchasing an additional 12,638 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of Magnolia Oil & Gas by 16.3% during the 2nd quarter. Intech Investment Management LLC now owns 80,021 shares of the company’s stock valued at $1,799,000 after buying an additional 11,207 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Magnolia Oil & Gas by 4.4% during the 3rd quarter. Bessemer Group Inc. now owns 912,526 shares of the company’s stock valued at $21,781,000 after buying an additional 38,502 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of Magnolia Oil & Gas by 16,251.3% in the 3rd quarter. Pacer Advisors Inc. now owns 626,745 shares of the company’s stock valued at $14,960,000 after buying an additional 622,912 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Trading Up 1.9%

Shares of MGY opened at $29.48 on Tuesday. The business’s 50-day moving average price is $25.74 and its 200 day moving average price is $24.06. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $5.50 billion, a P/E ratio of 17.14 and a beta of 0.89. Magnolia Oil & Gas has a 1-year low of $19.09 and a 1-year high of $29.74.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $317.63 million during the quarter, compared to analyst estimates of $322.18 million. During the same period in the prior year, the firm earned $0.44 earnings per share. The business’s quarterly revenue was down 2.8% on a year-over-year basis. Analysts expect that Magnolia Oil & Gas will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 10th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a yield of 2.2%. Magnolia Oil & Gas’s payout ratio is presently 38.37%.

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).