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

Shares of Magnolia Oil & Gas Corp (NYSE:MGY) have been given an average rating of “Hold” by the seventeen analysts that are presently covering the stock, MarketBeat reports. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $31.4167.

A number of analysts have issued reports on the company. Citigroup lowered their target price on Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. Wells Fargo & Company lowered their target price on Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 13th. Roth Mkm reaffirmed a “neutral” rating and issued a $32.00 target price (up from $29.00) on shares of Magnolia Oil & Gas in a report on Wednesday, April 8th. KeyCorp raised their target price on Magnolia Oil & Gas from $30.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Finally, Truist Financial raised their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “hold” rating in a report on Monday, April 27th.

Institutional Trading of Magnolia Oil & Gas

A number of hedge funds have recently modified their holdings of the company. Lido Advisors LLC lifted its position in shares of Magnolia Oil & Gas by 2.4% in the 4th quarter. Lido Advisors LLC now owns 16,197 shares of the company’s stock worth $382,000 after acquiring an additional 387 shares during the period. Oak Family Advisors LLC lifted its position in shares of Magnolia Oil & Gas by 0.9% in the 4th quarter. Oak Family Advisors LLC now owns 47,620 shares of the company’s stock worth $1,042,000 after acquiring an additional 410 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Magnolia Oil & Gas by 10.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,624 shares of the company’s stock worth $102,000 after acquiring an additional 422 shares during the period. GAMMA Investing LLC lifted its position in shares of Magnolia Oil & Gas by 8.0% in the 4th quarter. GAMMA Investing LLC now owns 6,130 shares of the company’s stock worth $134,000 after acquiring an additional 453 shares during the period. Finally, Coldstream Capital Management Inc. lifted its position in shares of Magnolia Oil & Gas by 3.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company’s stock worth $380,000 after acquiring an additional 482 shares during the period. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Down 0.9%

Shares of MGY stock opened at $26.87 on Thursday. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 15.62 and a beta of 0.71. The stock’s 50 day simple moving average is $28.68 and its 200 day simple moving average is $26.76. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.10 and a current ratio of 1.10. 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 released its earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The firm had revenue of $358.51 million for the quarter, compared to analyst estimates of $349.89 million. Magnolia Oil & Gas had a return on equity of 16.28% and a net margin of 24.40%.The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS. As a group, research analysts predict that Magnolia Oil & Gas will post 2.79 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were issued a $0.165 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.66 dividend on an annualized basis and a yield of 2.5%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 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).