Magnolia Oil & Gas Corp (NYSE:MGY) Receives Average Rating of “Hold” from Analysts

Shares of Magnolia Oil & Gas Corp (NYSE:MGY) have been given a consensus recommendation of “Hold” by the seventeen analysts that are covering the company, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $31.4167.

Several brokerages have weighed in on MGY. Weiss Ratings lowered Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Roth Mkm reaffirmed a “neutral” rating and issued a $32.00 target price (up from $29.00) on shares of Magnolia Oil & Gas in a research report on Wednesday, April 8th. Piper Sandler upped their target price on Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. UBS Group upped their target price on Magnolia Oil & Gas from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Finally, Wells Fargo & Company dropped their target price on Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 13th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC raised its stake in shares of Magnolia Oil & Gas by 45.4% in the 1st quarter. Parallel Advisors LLC now owns 2,572 shares of the company’s stock valued at $81,000 after acquiring an additional 803 shares in the last quarter. Glenmede Trust Co. NA raised its stake in shares of Magnolia Oil & Gas by 3.2% in the 1st quarter. Glenmede Trust Co. NA now owns 34,261 shares of the company’s stock valued at $1,082,000 after acquiring an additional 1,049 shares in the last quarter. Ritter Alpha LP bought a new position in shares of Magnolia Oil & Gas in the 1st quarter valued at approximately $267,000. Argent Capital Management LLC raised its stake in shares of Magnolia Oil & Gas by 49.7% in the 1st quarter. Argent Capital Management LLC now owns 63,895 shares of the company’s stock valued at $2,017,000 after acquiring an additional 21,206 shares in the last quarter. Finally, 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 acquiring an additional 659,012 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $26.87 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.10 and a quick ratio of 1.10. Magnolia Oil & Gas has a fifty-two week low of $21.07 and a fifty-two week high of $32.76. The stock’s 50-day moving average is $28.68 and its two-hundred day moving average is $26.76. The firm has a market cap of $4.97 billion, a P/E ratio of 15.62 and a beta of 0.71.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Magnolia Oil & Gas had a return on equity of 16.28% and a net margin of 24.40%.The company had revenue of $358.51 million for the quarter, compared to analyst estimates of $349.89 million. During the same period in the prior year, the firm posted $0.54 EPS. The business’s revenue was up 2.3% compared to the same quarter last year. Analysts predict that Magnolia Oil & Gas will post 2.79 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, May 12th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 38.37%.

Magnolia Oil & Gas Company Profile

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).