Magnolia Oil & Gas (NYSE:MGY) Reaches New 12-Month High at $27.33

Magnolia Oil & Gas Co. (NYSE:MGY)’s share price reached a new 52-week high on Friday . The stock traded as high as $27.33 and last traded at $27.09, with a volume of 100728 shares. The stock had previously closed at $26.80.

Analysts Set New Price Targets

Several research firms have weighed in on MGY. Bank of America began coverage on Magnolia Oil & Gas in a research report on Tuesday, February 27th. They set a “buy” rating and a $25.00 price target for the company. Wells Fargo & Company reduced their target price on Magnolia Oil & Gas from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Friday, January 19th. Mizuho lifted their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, March 14th. Truist Financial lifted their target price on Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, The Goldman Sachs Group lifted their target price on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.71.

Magnolia Oil & Gas Price Performance

The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.21. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 13.01, a P/E/G ratio of 1.69 and a beta of 2.05. The business has a 50-day moving average price of $23.61 and a 200 day moving average price of $22.28.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The business had revenue of $322.63 million during the quarter, compared to the consensus estimate of $324.95 million. Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. As a group, research analysts expect that Magnolia Oil & Gas Co. will post 2.03 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Thursday, February 15th. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 25.37%.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several hedge funds have recently made changes to their positions in MGY. Mather Group LLC. acquired a new stake in shares of Magnolia Oil & Gas during the first quarter worth approximately $27,000. Private Wealth Management Group LLC acquired a new stake in shares of Magnolia Oil & Gas in the fourth quarter valued at approximately $33,000. VisionPoint Advisory Group LLC increased its holdings in shares of Magnolia Oil & Gas by 112.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock valued at $35,000 after purchasing an additional 813 shares in the last quarter. State of Wyoming boosted its stake in Magnolia Oil & Gas by 38.8% in the second quarter. State of Wyoming now owns 2,552 shares of the company’s stock valued at $53,000 after acquiring an additional 713 shares during the last quarter. Finally, KBC Group NV bought a new position in Magnolia Oil & Gas in the fourth quarter valued at approximately $57,000. Institutional investors own 94.73% of the company’s stock.

About Magnolia Oil & Gas

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.