Magnolia Oil & Gas (NYSE:MGY) Receives “Hold” Rating from Benchmark

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

MGY has been the subject of a number of other research reports. Wolfe Research began coverage on shares of Magnolia Oil & Gas in a report on Thursday, July 18th. They set an “outperform” rating and a $32.00 target price for the company. Piper Sandler decreased their price objective on Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Truist Financial cut their target price on Magnolia Oil & Gas from $35.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. JPMorgan Chase & Co. decreased their target price on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Finally, Susquehanna reduced their price objective on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Magnolia Oil & Gas has an average rating of “Hold” and a consensus price target of $27.50.

Magnolia Oil & Gas Trading Down 1.4 %

MGY stock opened at $26.12 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas has a twelve month low of $19.16 and a twelve month high of $27.63. The company has a market cap of $5.30 billion, a P/E ratio of 13.00, a PEG ratio of 1.36 and a beta of 1.99. The business has a fifty day moving average of $25.17 and a 200-day moving average of $25.43.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.05. The firm had revenue of $336.73 million during the quarter, compared to analysts’ expectations of $340.72 million. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. As a group, equities research analysts expect that Magnolia Oil & Gas will post 1.99 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.13 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.52 annualized dividend and a yield of 1.99%. Magnolia Oil & Gas’s dividend payout ratio is currently 25.87%.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the completion of the transaction, the director now directly owns 2,099,403 shares of the company’s stock, valued at $54,290,561.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Magnolia Oil & Gas

A number of institutional investors have recently made changes to their positions in MGY. nVerses Capital LLC acquired a new stake in Magnolia Oil & Gas in the 3rd quarter valued at $383,000. Seven Grand Managers LLC bought a new position in shares of Magnolia Oil & Gas in the 3rd quarter valued at about $4,884,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Magnolia Oil & Gas in the third quarter valued at about $320,000. Foster Victor Wealth Advisors LLC increased its position in shares of Magnolia Oil & Gas by 42.1% in the third quarter. Foster Victor Wealth Advisors LLC now owns 294,738 shares of the company’s stock valued at $7,781,000 after acquiring an additional 87,292 shares during the last quarter. Finally, Creative Planning raised its holdings in Magnolia Oil & Gas by 8.3% during the third quarter. Creative Planning now owns 68,878 shares of the company’s stock worth $1,682,000 after acquiring an additional 5,289 shares in the last quarter. 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.