Magnolia Oil & Gas Corp (NYSE:MGY) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Magnolia Oil & Gas Corp (NYSE:MGY) have received a consensus rating of “Moderate Buy” from the seventeen brokerages that are currently covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $31.50.

A number of research firms recently commented on MGY. UBS Group lowered their price objective on shares of Magnolia Oil & Gas from $38.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, July 10th. KeyCorp reiterated an “overweight” rating on shares of Magnolia Oil & Gas in a report on Monday, June 29th. Truist Financial raised Magnolia Oil & Gas from a “hold” rating to a “buy” rating and boosted their target price for the company from $32.00 to $33.00 in a research note on Tuesday, July 28th. Citigroup lowered their price target on Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, April 13th. Finally, Wells Fargo & Company dropped their price target 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 Investors Weigh In On Magnolia Oil & Gas

Institutional investors have recently added to or reduced their stakes in the stock. Foster Victor Wealth Advisors LLC boosted its position in shares of Magnolia Oil & Gas by 9.2% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 417,192 shares of the company’s stock worth $9,429,000 after buying an additional 35,223 shares during the period. Bessemer Group Inc. grew its holdings in shares of Magnolia Oil & Gas by 22.4% during the fourth quarter. Bessemer Group Inc. now owns 1,116,993 shares of the company’s stock worth $24,452,000 after buying an additional 204,467 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in Magnolia Oil & Gas by 210.5% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 414,817 shares of the company’s stock valued at $9,080,000 after buying an additional 281,234 shares during the last quarter. TD Asset Management Inc lifted its stake in Magnolia Oil & Gas by 26.6% in the 4th quarter. TD Asset Management Inc now owns 5,671,819 shares of the company’s stock valued at $124,156,000 after acquiring an additional 1,193,458 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its stake in Magnolia Oil & Gas by 481.9% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 153,445 shares of the company’s stock valued at $4,844,000 after acquiring an additional 127,077 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Stock Up 4.4%

Shares of NYSE MGY opened at $24.77 on Friday. The firm has a market capitalization of $4.58 billion, a PE ratio of 10.86 and a beta of 0.72. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.19. Magnolia Oil & Gas has a 1 year low of $21.07 and a 1 year high of $32.76. The firm’s 50-day moving average is $26.23 and its 200-day moving average is $27.61.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. Magnolia Oil & Gas had a return on equity of 21.39% and a net margin of 28.77%.The company had revenue of $478.81 million for the quarter, compared to the consensus estimate of $458.10 million. During the same quarter in the prior year, the business posted $0.41 EPS. The firm’s quarterly revenue was up 50.1% on a year-over-year basis. Equities analysts expect that Magnolia Oil & Gas will post 2.78 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 10th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.9%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.17. The ex-dividend date is Monday, August 10th. Magnolia Oil & Gas’s dividend payout ratio is currently 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).