Magnolia Oil & Gas Corp (NYSE:MGY) Receives $27.00 Consensus Target Price from Analysts

Magnolia Oil & Gas Corp (NYSE:MGY) has earned an average recommendation of “Moderate Buy” from the sixteen brokerages that are covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $27.00.

A number of equities research analysts have recently commented on the stock. Mizuho set a $30.00 price objective on shares of Magnolia Oil & Gas in a research note on Friday, February 6th. Wells Fargo & Company set a $22.00 price target on shares of Magnolia Oil & Gas and gave the company an “equal weight” rating in a research report on Tuesday, January 27th. Citigroup upgraded shares of Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $19.00 to $25.00 in a research report on Wednesday, January 14th. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research note on Wednesday, January 21st. Finally, KeyCorp upped their price target on Magnolia Oil & Gas from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, February 9th.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of large investors have recently modified their holdings of MGY. Kestra Advisory Services LLC purchased a new stake in Magnolia Oil & Gas in the fourth quarter valued at $99,000. Segall Bryant & Hamill LLC lifted its position in Magnolia Oil & Gas by 2.3% in the fourth quarter. Segall Bryant & Hamill LLC now owns 111,015 shares of the company’s stock valued at $2,430,000 after buying an additional 2,492 shares during the last quarter. Stifel Financial Corp boosted its stake in Magnolia Oil & Gas by 1.6% during the fourth quarter. Stifel Financial Corp now owns 36,980 shares of the company’s stock worth $809,000 after buying an additional 585 shares during the period. Quarry LP increased its position in shares of Magnolia Oil & Gas by 3,728.7% during the fourth quarter. Quarry LP now owns 5,475 shares of the company’s stock valued at $120,000 after acquiring an additional 5,332 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Magnolia Oil & Gas by 10.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,624 shares of the company’s stock valued at $102,000 after acquiring an additional 422 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Trading Up 3.0%

Magnolia Oil & Gas stock opened at $26.77 on Friday. Magnolia Oil & Gas has a one year low of $19.09 and a one year high of $27.47. The stock has a market cap of $5.05 billion, a PE ratio of 15.56 and a beta of 0.96. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.54 and a current ratio of 1.54. The stock has a 50-day moving average of $23.41 and a two-hundred day moving average of $23.45.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Magnolia Oil & Gas had a return on equity of 16.67% and a net margin of 24.79%.The company had revenue of $317.63 million during the quarter, compared to analyst estimates of $322.18 million. During the same quarter last year, the business posted $0.44 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. On average, research analysts anticipate that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $0.66 dividend on an annualized basis and a yield of 2.5%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. Magnolia Oil & Gas’s dividend payout ratio is 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).