Magnolia Oil & Gas’ (MGY) “Hold” Rating Reaffirmed at Benchmark

Benchmark reaffirmed their hold rating on shares of Magnolia Oil & Gas (NYSE:MGY) in a report released on Tuesday morning, Benzinga reports.

Other research analysts have also issued reports about the stock. Mizuho upped their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a neutral rating in a report on Thursday, March 14th. Citigroup upped their target price on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a sell rating in a report on Monday, April 15th. Susquehanna upped their target price on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a positive rating in a report on Monday. Bank of America assumed coverage on shares of Magnolia Oil & Gas in a report on Tuesday, February 27th. They issued a buy rating and a $25.00 target price on the stock. Finally, Truist Financial increased their price objective on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a buy rating in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $27.63.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock opened at $25.99 on Tuesday. Magnolia Oil & Gas has a 52 week low of $18.72 and a 52 week high of $27.33. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.21. The firm’s 50-day simple moving average is $24.38 and its 200 day simple moving average is $22.45. The firm has a market capitalization of $5.31 billion, a PE ratio of 12.68, a P/E/G ratio of 1.57 and a beta of 2.05.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.04). The business had revenue of $322.63 million during the quarter, compared to analysts’ expectations of $324.95 million. Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. On average, equities research analysts predict that Magnolia Oil & Gas will post 2.09 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. Magnolia Oil & Gas’s dividend payout ratio is 25.37%.

Institutional Trading of Magnolia Oil & Gas

Institutional investors and hedge funds have recently bought and sold shares of the business. Mather Group LLC. acquired a new stake in Magnolia Oil & Gas during the 1st quarter worth approximately $27,000. Private Wealth Management Group LLC acquired a new stake in Magnolia Oil & Gas during the 4th quarter worth approximately $33,000. VisionPoint Advisory Group LLC increased its position in Magnolia Oil & Gas by 112.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after purchasing an additional 813 shares in the last quarter. Quadrant Capital Group LLC increased its position in Magnolia Oil & Gas by 40.4% during the 4th quarter. Quadrant Capital Group LLC now owns 4,623 shares of the company’s stock worth $98,000 after purchasing an additional 1,331 shares in the last quarter. Finally, Arlington Trust Co LLC acquired a new stake in Magnolia Oil & Gas during the 4th quarter worth approximately $113,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Company Profile

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.