Magnolia Oil & Gas Corp (NYSE:MGY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Magnolia Oil & Gas Corp (NYSE:MGY) has received an average rating of “Moderate Buy” from the seventeen research firms that are presently covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $31.6154.

Several brokerages have weighed in on MGY. Wall Street Zen upgraded Magnolia Oil & Gas from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings raised Magnolia Oil & Gas from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Truist Financial upgraded shares of Magnolia Oil & Gas from a “hold” rating to a “buy” rating and lifted their price objective for the company from $32.00 to $33.00 in a research report on Tuesday, July 28th. KeyCorp restated an “overweight” rating and set a $38.00 price objective on shares of Magnolia Oil & Gas in a research report on Wednesday, August 12th. Finally, Johnson Rice upgraded shares of Magnolia Oil & Gas from a “hold” rating to an “accumulate” rating and reduced their target price for the stock from $33.00 to $32.00 in a research note on Monday, August 17th.

Magnolia Oil & Gas Price Performance

Shares of MGY opened at $26.83 on Tuesday. Magnolia Oil & Gas has a fifty-two week low of $21.07 and a fifty-two week high of $32.76. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of 11.77 and a beta of 0.72. The firm has a 50-day simple moving average of $25.98 and a 200-day simple moving average of $27.80. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.58 and a current ratio of 1.58.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.06. The firm had revenue of $478.81 million for the quarter, compared to analysts’ expectations of $458.10 million. Magnolia Oil & Gas had a return on equity of 21.04% and a net margin of 28.77%.The firm’s revenue for the quarter was up 50.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 EPS. On average, equities research analysts anticipate that Magnolia Oil & Gas will post 2.87 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 10th will be paid a dividend of $0.18 per share. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.7%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 31.58%.

Insider Transactions at Magnolia Oil & Gas

In related news, Director David M. Khani purchased 8,000 shares of the stock in a transaction dated Friday, August 7th. The shares were acquired at an average cost of $25.00 per share, with a total value of $200,000.00. Following the purchase, the director directly owned 30,622 shares in the company, valued at $765,550. This trade represents a 35.36% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.92% of the company’s stock.

Institutional Trading of Magnolia Oil & Gas

A number of institutional investors have recently bought and sold shares of the company. Valued Wealth Advisors LLC acquired a new stake in Magnolia Oil & Gas in the first quarter valued at $29,000. EverSource Wealth Advisors LLC boosted its position in shares of Magnolia Oil & Gas by 165.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock worth $31,000 after buying an additional 864 shares in the last quarter. Harbor Investment Advisory LLC purchased a new stake in shares of Magnolia Oil & Gas in the 2nd quarter worth about $39,000. Parallel Advisors LLC grew its stake in Magnolia Oil & Gas by 79.8% in the 4th quarter. Parallel Advisors LLC now owns 1,769 shares of the company’s stock valued at $39,000 after acquiring an additional 785 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in Magnolia Oil & Gas by 90.5% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company’s stock valued at $50,000 after acquiring an additional 1,051 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

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).