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

Shares of Magnolia Oil & Gas Corp (NYSE:MGY) have earned an average recommendation 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 recommendation, seven have given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $26.25.

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

Institutional Trading of Magnolia Oil & Gas

Hedge funds have recently bought and sold shares of the company. State of Wyoming grew its holdings in shares of Magnolia Oil & Gas by 8.2% during the 1st quarter. State of Wyoming now owns 5,777 shares of the company’s stock valued at $146,000 after purchasing an additional 440 shares during the last quarter. Vista Finance LLC grew its stake 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 valued at $273,000 after buying an additional 471 shares during the last quarter. Coldstream Capital Management Inc. increased its holdings 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 worth $380,000 after buying an additional 482 shares during the period. ProShare Advisors LLC lifted its stake in shares of Magnolia Oil & Gas by 1.2% in the 2nd quarter. ProShare Advisors LLC now owns 41,617 shares of the company’s stock valued at $936,000 after acquiring an additional 495 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Magnolia Oil & Gas by 13.2% during the 3rd 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 period. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Up 0.9%

MGY opened at $23.14 on Friday. Magnolia Oil & Gas has a fifty-two week low of $19.09 and a fifty-two week high of $27.90. The firm has a market capitalization of $4.37 billion, a P/E ratio of 12.92, a PEG ratio of 3.11 and a beta of 1.18. The company’s 50-day moving average is $23.12 and its 200 day moving average is $23.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Wednesday, October 29th. The company reported $0.41 EPS for the quarter, hitting analysts’ consensus estimates of $0.41. The company had revenue of $324.94 million for the quarter, compared to analysts’ expectations of $322.52 million. Magnolia Oil & Gas had a return on equity of 18.10% and a net margin of 25.90%.The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 EPS. Research analysts expect 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 given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Monday, November 10th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 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.