Brokerages Set Magnolia Oil & Gas Corp (NYSE:MGY) Target Price at $26.42

Magnolia Oil & Gas Corp (NYSE:MGY) has received an average recommendation of “Hold” from the fourteen brokerages that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $26.4167.

A number of analysts have weighed in on MGY shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magnolia Oil & Gas in a research note on Wednesday, October 8th. Mizuho upped their target price on Magnolia Oil & Gas from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. KeyCorp set a $29.00 price target on Magnolia Oil & Gas and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Piper Sandler boosted their price target on Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Finally, William Blair started coverage on shares of Magnolia Oil & Gas in a report on Monday, August 25th. They issued an “outperform” rating for the company.

Institutional Trading of Magnolia Oil & Gas

Institutional investors and hedge funds have recently bought and sold shares of the stock. State of Wyoming lifted its holdings in Magnolia Oil & Gas by 8.2% during the 1st quarter. State of Wyoming now owns 5,777 shares of the company’s stock worth $146,000 after buying an additional 440 shares during the period. Vista Finance LLC raised its position in shares of Magnolia Oil & Gas by 4.0% during the second quarter. Vista Finance LLC now owns 12,134 shares of the company’s stock worth $273,000 after acquiring an additional 471 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Magnolia Oil & Gas by 1.2% in the second quarter. ProShare Advisors LLC now owns 41,617 shares of the company’s stock worth $936,000 after acquiring an additional 495 shares during the period. Farther Finance Advisors LLC boosted its holdings in Magnolia Oil & Gas by 13.2% in the third quarter. Farther Finance Advisors LLC now owns 4,284 shares of the company’s stock valued at $102,000 after acquiring an additional 500 shares during the last quarter. Finally, Amalgamated Bank increased its position in Magnolia Oil & Gas by 1.0% during the 3rd quarter. Amalgamated Bank now owns 53,307 shares of the company’s stock valued at $1,272,000 after purchasing an additional 552 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Stock Up 2.7%

Shares of NYSE MGY opened at $22.91 on Wednesday. The company has a market cap of $4.32 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 3.01 and a beta of 1.18. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas has a 12 month low of $19.09 and a 12 month high of $29.02. The stock has a 50-day moving average price of $23.45 and a two-hundred day moving average price of $23.22.

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

Magnolia Oil & Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 10th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $0.60 annualized dividend and a dividend yield of 2.6%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 33.52%.

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.