UBS Group Begins Coverage on Magnolia Oil & Gas (NYSE:MGY)

UBS Group started coverage on shares of Magnolia Oil & Gas (NYSE:MGY) in a report released on Tuesday, MarketBeat.com reports. The brokerage issued a buy rating and a $26.00 target price on the stock.

Several other analysts have also issued reports on the stock. The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $27.00 to $26.00 in a research report on Friday, January 31st. Citigroup dropped their price objective on Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating for the company in a research note on Tuesday, April 8th. Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price objective on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Finally, Bank of America reiterated a “neutral” rating and issued a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $27.21.

Magnolia Oil & Gas Stock Up 3.2 %

Shares of Magnolia Oil & Gas stock opened at $21.36 on Tuesday. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 3.01 and a beta of 1.57. The stock has a 50-day simple moving average of $22.91 and a 200-day simple moving average of $24.57. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. Magnolia Oil & Gas has a 52-week low of $19.09 and a 52-week high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The business had revenue of $326.61 million during the quarter, compared to analysts’ expectations of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. On average, equities research analysts expect that Magnolia Oil & Gas will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.81%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 14th. Magnolia Oil & Gas’s payout ratio is presently 31.09%.

Insider Transactions at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros acquired 2,500 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $22.05 per share, with a total value of $55,125.00. Following the transaction, the chief executive officer now owns 892,372 shares of the company’s stock, valued at $19,676,802.60. The trade was a 0.28 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by insiders.

Institutional Trading of Magnolia Oil & Gas

Several hedge funds and other institutional investors have recently modified their holdings of MGY. Allspring Global Investments Holdings LLC grew its holdings in shares of Magnolia Oil & Gas by 3.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,175,387 shares of the company’s stock worth $81,004,000 after buying an additional 110,961 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Magnolia Oil & Gas by 4.4% during the 1st quarter. Bessemer Group Inc. now owns 836,386 shares of the company’s stock worth $21,127,000 after acquiring an additional 35,575 shares in the last quarter. Retirement Guys Formula LLC bought a new stake in shares of Magnolia Oil & Gas in the first quarter worth $212,000. Oppenheimer Asset Management Inc. lifted its position in shares of Magnolia Oil & Gas by 2.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 38,957 shares of the company’s stock worth $984,000 after purchasing an additional 811 shares in the last quarter. Finally, Boston Trust Walden Corp boosted its holdings in Magnolia Oil & Gas by 2.8% during the first quarter. Boston Trust Walden Corp now owns 3,178,608 shares of the company’s stock worth $80,292,000 after purchasing an additional 88,021 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Company Profile

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.