Citigroup Boosts Magnolia Oil & Gas (NYSE:MGY) Price Target to $22.00

Magnolia Oil & Gas (NYSE:MGY) had its price target hoisted by Citigroup from $18.00 to $22.00 in a research report released on Monday morning, Benzinga reports. They currently have a sell rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Mizuho lifted their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a neutral rating in a research note on Thursday, March 14th. Bank of America assumed coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, February 27th. They issued a buy rating and a $25.00 target price for the company. Truist Financial lifted their target price on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a buy rating in a research note on Friday, February 16th. Piper Sandler cut their target price on shares of Magnolia Oil & Gas from $30.00 to $29.00 and set an overweight rating for the company in a research note on Wednesday, January 24th. Finally, Wells Fargo & Company cut their target price on shares of Magnolia Oil & Gas from $23.00 to $21.00 and set an equal weight rating for the company in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $26.29.

Magnolia Oil & Gas Stock Down 0.7 %

NYSE MGY opened at $25.82 on Monday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.21. The stock’s 50 day moving average is $23.96 and its two-hundred day moving average is $22.33. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.61 and a beta of 2.05. Magnolia Oil & Gas has a 1-year low of $18.72 and a 1-year high of $27.33.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The company had revenue of $322.63 million for the quarter, compared to analyst estimates of $324.95 million. Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. Equities analysts forecast that Magnolia Oil & Gas will post 2.08 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.01%. The ex-dividend date was Thursday, February 15th. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. Magnolia Oil & Gas’s payout ratio is 25.37%.

Institutional Trading of Magnolia Oil & Gas

Institutional investors and hedge funds have recently made changes to their positions in the business. Mather Group LLC. bought a new stake in shares of Magnolia Oil & Gas during the 1st quarter valued at $27,000. Private Wealth Management Group LLC bought a new stake in shares of Magnolia Oil & Gas during the 4th quarter valued at $33,000. VisionPoint Advisory Group LLC raised its position in shares of Magnolia Oil & Gas by 112.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock valued at $35,000 after acquiring an additional 813 shares during the last quarter. State of Wyoming raised its position in shares of Magnolia Oil & Gas by 38.8% during the 2nd quarter. State of Wyoming now owns 2,552 shares of the company’s stock valued at $53,000 after acquiring an additional 713 shares during the last quarter. Finally, KBC Group NV bought a new stake in shares of Magnolia Oil & Gas during the 4th quarter valued at $57,000. 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.