Magnolia Oil & Gas (NYSE:MGY) PT Raised to $28.00

Magnolia Oil & Gas (NYSE:MGY) had its price target lifted by The Goldman Sachs Group from $24.50 to $28.00 in a report issued on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued research reports about the company. Truist Financial upped their price objective on Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a buy rating in a report on Friday, February 16th. Bank of America initiated coverage on Magnolia Oil & Gas in a report on Tuesday, February 27th. They issued a buy rating and a $25.00 price objective for the company. Mizuho boosted their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a neutral rating in a research report on Thursday, March 14th. Piper Sandler cut their target price on Magnolia Oil & Gas from $30.00 to $29.00 and set an overweight rating on the stock in a research report on Wednesday, January 24th. Finally, Wells Fargo & Company cut their target price on Magnolia Oil & Gas from $23.00 to $21.00 and set an equal weight rating on the stock in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of Hold and a consensus target price of $25.71.

Magnolia Oil & Gas Trading Up 1.6 %

Shares of MGY stock opened at $25.95 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.88 and a current ratio of 1.88. Magnolia Oil & Gas has a 1 year low of $18.72 and a 1 year high of $25.95. The stock has a fifty day moving average of $22.26 and a two-hundred day moving average of $21.99. The firm has a market capitalization of $5.30 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 1.60 and a beta of 2.03.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The business had revenue of $322.63 million for the quarter, compared to analyst estimates of $324.95 million. Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. As a group, research analysts expect that Magnolia Oil & Gas will post 2 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Thursday, February 15th. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. Magnolia Oil & Gas’s dividend payout ratio is 25.37%.

Institutional Trading of Magnolia Oil & Gas

Several hedge funds have recently added to or reduced their stakes in MGY. Advisor Group Holdings Inc. boosted its stake in Magnolia Oil & Gas by 121.9% during the 1st quarter. Advisor Group Holdings Inc. now owns 16,774 shares of the company’s stock valued at $396,000 after purchasing an additional 9,214 shares during the period. Bank of New York Mellon Corp raised its holdings in Magnolia Oil & Gas by 3.6% in the 1st quarter. Bank of New York Mellon Corp now owns 1,118,918 shares of the company’s stock valued at $26,462,000 after acquiring an additional 39,115 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Magnolia Oil & Gas by 320.2% in the 1st quarter. Acadian Asset Management LLC now owns 10,686 shares of the company’s stock valued at $252,000 after acquiring an additional 8,143 shares in the last quarter. MetLife Investment Management LLC raised its holdings in Magnolia Oil & Gas by 55.1% in the 1st quarter. MetLife Investment Management LLC now owns 77,409 shares of the company’s stock valued at $1,831,000 after acquiring an additional 27,498 shares in the last quarter. Finally, Panagora Asset Management Inc. acquired a new position in Magnolia Oil & Gas in the 1st quarter valued at approximately $1,084,000. Institutional investors own 94.73% of the company’s stock.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.