Magnolia Oil & Gas Co. (NYSE:MGY) Given Average Rating of “Hold” by Brokerages

Magnolia Oil & Gas Co. (NYSE:MGY) has received an average rating of “Hold” from the thirteen brokerages that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $27.58.

A number of equities analysts have recently commented on MGY shares. Piper Sandler lowered their price objective on Magnolia Oil & Gas from $26.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Wells Fargo & Company cut shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $26.00 to $22.00 in a research report on Tuesday, October 1st. Bank of America reissued a “neutral” rating and issued a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday. Finally, Mizuho lifted their price target on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, December 16th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC raised its holdings in shares of Magnolia Oil & Gas by 174.9% in the third quarter. FMR LLC now owns 34,851 shares of the company’s stock valued at $851,000 after buying an additional 22,171 shares during the last quarter. Oliver Luxxe Assets LLC lifted its position in Magnolia Oil & Gas by 80.6% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company’s stock worth $2,140,000 after acquiring an additional 39,098 shares during the period. HighTower Advisors LLC purchased a new position in shares of Magnolia Oil & Gas in the 3rd quarter valued at approximately $353,000. Ensign Peak Advisors Inc increased its holdings in shares of Magnolia Oil & Gas by 5.6% in the second quarter. Ensign Peak Advisors Inc now owns 68,919 shares of the company’s stock valued at $1,746,000 after purchasing an additional 3,630 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in shares of Magnolia Oil & Gas during the third quarter worth approximately $1,252,000. 94.73% of the stock is owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Price Performance

Shares of MGY opened at $25.42 on Thursday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas has a fifty-two week low of $19.16 and a fifty-two week high of $29.02. The company has a market cap of $5.00 billion, a P/E ratio of 12.58, a PEG ratio of 1.29 and a beta of 2.00. The firm’s 50 day moving average price is $25.64 and its 200 day moving average price is $25.50.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The business had revenue of $333.14 million for the quarter, compared to analysts’ expectations of $331.45 million. On average, research analysts forecast that Magnolia Oil & Gas will post 2 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Friday, November 8th. Magnolia Oil & Gas’s payout ratio is currently 25.74%.

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.