Magnolia Oil & Gas Corp (NYSE:MGY) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Magnolia Oil & Gas Corp (NYSE:MGY) has received a consensus rating of “Moderate Buy” from the twenty analysts that are covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $31.39.

Several analysts have recently issued reports on MGY shares. Citigroup reduced their target price on shares of Magnolia Oil & Gas from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday, November 10th. Susquehanna upped their target price on Magnolia Oil & Gas from $36.00 to $37.00 and gave the company a “positive” rating in a report on Tuesday, August 11th. Truist Financial reaffirmed a “buy” rating and set a $37.00 price target (up from $35.00) on shares of Magnolia Oil & Gas in a research report on Friday, November 6th. Siebert Williams Shank raised Magnolia Oil & Gas from a “hold” rating to a “buy” rating and increased their price target for the company from $30.00 to $32.00 in a research report on Wednesday, September 23rd. Finally, Wall Street Zen lowered Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a report on Sunday, November 8th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Planning Project LLC purchased a new position in Magnolia Oil & Gas during the second quarter valued at approximately $1,434,000. Public Employees Retirement System of Ohio purchased a new stake in Magnolia Oil & Gas in the 2nd quarter worth approximately $3,077,000. Janus Henderson Group PLC lifted its stake in Magnolia Oil & Gas by 2.8% in the 1st quarter. Janus Henderson Group PLC now owns 6,279,636 shares of the company’s stock worth $198,248,000 after purchasing an additional 170,174 shares in the last quarter. Edgestream Partners L.P. lifted its stake in Magnolia Oil & Gas by 45.7% in the 1st quarter. Edgestream Partners L.P. now owns 352,998 shares of the company’s stock worth $11,144,000 after purchasing an additional 110,677 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Magnolia Oil & Gas by 43.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,701,802 shares of the company’s stock valued at $53,726,000 after purchasing an additional 517,500 shares during the period. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Stock Up 1.6%

Shares of Magnolia Oil & Gas stock traded up $0.38 during trading hours on Friday, reaching $24.54. The company’s stock had a trading volume of 2,645,922 shares, compared to its average volume of 2,996,105. The company has a market capitalization of $6.53 billion, a P/E ratio of 11.00 and a beta of 0.72. The stock’s fifty day simple moving average is $25.09 and its two-hundred day simple moving average is $27.03. Magnolia Oil & Gas has a one year low of $21.07 and a one year high of $32.76. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.51 and a current ratio of 0.51.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.13. The business had revenue of $513.89 million during the quarter, compared to analyst estimates of $474.39 million. Magnolia Oil & Gas had a return on equity of 19.90% and a net margin of 25.82%. Magnolia Oil & Gas’s quarterly revenue was up 58.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 EPS. On average, research analysts forecast that Magnolia Oil & Gas will post 2.99 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be given a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $0.72 annualized dividend and a yield of 2.9%. Magnolia Oil & Gas’s payout ratio is currently 32.29%.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation is an independent exploration and production company focused on developing oil and natural gas resources in South Texas. Its operations target the Eagle Ford Shale and Austin Chalk formations. The company’s assets are concentrated in the Karnes and Giddings areas. Its production includes crude oil, natural gas and natural gas liquids. Magnolia was established in 2018 through a business combination with TPG Pace Holdings. It is headquartered in Houston, Texas.