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

Shares of Magnolia Oil & Gas Corp (NYSE:MGY) have earned an average rating of “Hold” from the fourteen analysts that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $26.25.

MGY has been the topic of a number of recent research reports. KeyCorp set a $29.00 price target on shares of Magnolia Oil & Gas and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. William Blair began coverage on shares of Magnolia Oil & Gas in a research note on Monday, August 25th. They issued an “outperform” rating on the stock. Piper Sandler lowered their target price on Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, November 18th. Weiss Ratings restated a “hold (c)” rating on shares of Magnolia Oil & Gas in a research report on Wednesday, October 8th. Finally, Mizuho increased their price target on Magnolia Oil & Gas from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, October 30th.

Magnolia Oil & Gas Stock Down 0.4%

Shares of MGY opened at $23.39 on Friday. The stock has a 50 day moving average price of $23.03 and a 200 day moving average price of $23.33. Magnolia Oil & Gas has a one year low of $19.09 and a one year high of $26.92. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 3.16 and a beta of 0.93.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, October 29th. The company reported $0.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.41. Magnolia Oil & Gas had a net margin of 25.90% and a return on equity of 18.10%. The company had revenue of $324.94 million for the quarter, compared to analysts’ expectations of $322.52 million. During the same quarter in the previous year, the company posted $0.52 EPS. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. Equities research analysts forecast that Magnolia Oil & Gas will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 10th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Monday, November 10th. Magnolia Oil & Gas’s payout ratio is currently 33.52%.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of hedge funds have recently modified their holdings of MGY. Campbell & CO Investment Adviser LLC boosted its position in shares of Magnolia Oil & Gas by 325.0% during the second quarter. Campbell & CO Investment Adviser LLC now owns 214,211 shares of the company’s stock worth $4,815,000 after buying an additional 163,804 shares during the period. Jane Street Group LLC lifted its stake in Magnolia Oil & Gas by 1,382.9% during the 1st quarter. Jane Street Group LLC now owns 1,059,335 shares of the company’s stock worth $26,759,000 after acquiring an additional 987,896 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Magnolia Oil & Gas by 164.9% during the 1st quarter. Mackenzie Financial Corp now owns 29,322 shares of the company’s stock valued at $741,000 after acquiring an additional 18,254 shares during the period. Phocas Financial Corp. boosted its holdings in Magnolia Oil & Gas by 69.0% during the 2nd quarter. Phocas Financial Corp. now owns 189,378 shares of the company’s stock valued at $4,257,000 after acquiring an additional 77,327 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new position in Magnolia Oil & Gas in the 1st quarter valued at about $3,963,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.