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

Magnolia Oil & Gas Corp (NYSE:MGY) has been assigned an average recommendation of “Hold” from the seventeen ratings firms that are presently covering the company, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $31.4167.

A number of research analysts recently commented on the stock. Citigroup dropped their target price on shares of Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, April 13th. Mizuho increased their target price on shares of Magnolia Oil & Gas from $33.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday. KeyCorp increased their target price on shares of Magnolia Oil & Gas from $30.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Weiss Ratings downgraded shares of Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Finally, Wells Fargo & Company dropped their target price on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 13th.

Magnolia Oil & Gas Trading Up 0.7%

NYSE MGY opened at $27.77 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.10 and a quick ratio of 1.10. The firm’s fifty day moving average price is $29.69 and its 200 day moving average price is $26.29. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 16.14 and a beta of 0.75. Magnolia Oil & Gas has a 12 month low of $21.07 and a 12 month high of $32.76.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, May 6th. The company reported $0.54 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 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%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $0.54 EPS. On average, sell-side analysts expect that Magnolia Oil & Gas will post 2.85 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Tuesday, May 12th will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, May 12th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 38.37%.

Insider Activity at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, EVP Timothy D. Yang sold 150,000 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $29.29, for a total transaction of $4,393,500.00. Following the transaction, the executive vice president directly owned 526,661 shares of the company’s stock, valued at approximately $15,425,900.69. This trade represents a 22.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dan F. Smith sold 18,000 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $29.01, for a total transaction of $522,180.00. Following the transaction, the director directly owned 119,204 shares in the company, valued at $3,458,108.04. The trade was a 13.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 338,954 shares of company stock worth $9,911,733 in the last three months. Company insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Magnolia Oil & Gas

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Lido Advisors LLC boosted its stake in shares of Magnolia Oil & Gas by 2.4% in the fourth quarter. Lido Advisors LLC now owns 16,197 shares of the company’s stock valued at $382,000 after purchasing an additional 387 shares during the period. Oak Family Advisors LLC boosted its stake in shares of Magnolia Oil & Gas by 0.9% in the fourth quarter. Oak Family Advisors LLC now owns 47,620 shares of the company’s stock valued at $1,042,000 after purchasing an additional 410 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Magnolia Oil & Gas by 10.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,624 shares of the company’s stock valued at $102,000 after purchasing an additional 422 shares during the period. GAMMA Investing LLC boosted its stake in shares of Magnolia Oil & Gas by 8.0% in the fourth quarter. GAMMA Investing LLC now owns 6,130 shares of the company’s stock valued at $134,000 after purchasing an additional 453 shares during the period. Finally, Coldstream Capital Management Inc. boosted its stake in shares of Magnolia Oil & Gas by 3.1% in the third quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company’s stock valued at $380,000 after purchasing an additional 482 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

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).