Magnolia Oil & Gas Corp (NYSE:MGY) Receives $31.08 Consensus Target Price from Analysts

Shares of Magnolia Oil & Gas Corp (NYSE:MGY) have been assigned an average recommendation of “Hold” from the seventeen research firms that are covering the stock, Marketbeat.com reports. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $31.0833.

Several equities analysts have issued reports on MGY shares. Truist Financial dropped their target price on Magnolia Oil & Gas from $34.00 to $32.00 and set a “hold” rating on the stock in a research report on Tuesday, July 7th. KeyCorp reaffirmed an “overweight” rating on shares of Magnolia Oil & Gas in a report on Monday, June 29th. Zacks Research lowered Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Mizuho increased their price objective on shares of Magnolia Oil & Gas from $33.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Finally, Roth Capital upgraded Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Monday, June 22nd.

Hedge Funds Weigh In On Magnolia Oil & Gas

A number of institutional investors have recently modified their holdings of the company. Salomon & Ludwin LLC boosted its holdings in Magnolia Oil & Gas by 130.1% in the fourth quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock valued at $29,000 after acquiring an additional 760 shares during the last quarter. Valued Wealth Advisors LLC purchased a new stake in shares of Magnolia Oil & Gas in the first quarter worth about $29,000. EverSource Wealth Advisors LLC grew its stake in shares of Magnolia Oil & Gas by 165.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after buying an additional 864 shares in the last quarter. Torren Management LLC acquired a new stake in shares of Magnolia Oil & Gas in the fourth quarter valued at about $38,000. Finally, Harbor Investment Advisory LLC purchased a new stake in shares of Magnolia Oil & Gas during the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

MGY stock opened at $27.27 on Monday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $5.04 billion, a P/E ratio of 15.85 and a beta of 0.70. The business has a 50 day simple moving average of $27.36 and a 200-day simple moving average of $27.30. Magnolia Oil & Gas has a twelve month low of $21.07 and a twelve month high of $32.76.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. The company had revenue of $358.51 million for the quarter, compared to the consensus estimate of $349.89 million. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. Magnolia Oil & Gas’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $0.54 EPS. As a group, equities analysts anticipate that Magnolia Oil & Gas will post 2.67 EPS for the current 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 given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Tuesday, May 12th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 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).