Magnolia Oil & Gas Co. (NYSE:MGY) Receives Average Recommendation of “Hold” from Brokerages

Magnolia Oil & Gas Co. (NYSE:MGY) has received a consensus recommendation of “Hold” from the fourteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $27.54.

A number of research analysts have recently weighed in on the company. Johnson Rice lowered Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Truist Financial lifted their price objective on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Piper Sandler increased their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price target on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Finally, The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $27.00 to $26.00 in a research report on Friday, January 31st.

Insider Transactions at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros bought 2,500 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were acquired at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the purchase, the chief executive officer now directly owns 892,372 shares of the company’s stock, valued at approximately $19,676,802.60. The trade was a 0.28 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC bought a new position in shares of Magnolia Oil & Gas during the 3rd quarter worth $353,000. MML Investors Services LLC increased its position in Magnolia Oil & Gas by 13.0% during the 3rd quarter. MML Investors Services LLC now owns 9,522 shares of the company’s stock valued at $233,000 after purchasing an additional 1,096 shares during the period. Barclays PLC increased its position in Magnolia Oil & Gas by 62.5% during the 3rd quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock valued at $40,383,000 after purchasing an additional 636,049 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of Magnolia Oil & Gas by 11.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 18,123 shares of the company’s stock valued at $443,000 after purchasing an additional 1,857 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in shares of Magnolia Oil & Gas by 21.9% in the 3rd quarter. Tidal Investments LLC now owns 34,636 shares of the company’s stock worth $846,000 after purchasing an additional 6,225 shares during the period. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Up 1.8 %

NYSE MGY opened at $21.10 on Friday. Magnolia Oil & Gas has a 12 month low of $19.09 and a 12 month high of $29.02. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The stock has a market cap of $4.10 billion, a PE ratio of 10.93, a P/E/G ratio of 3.01 and a beta of 1.57. The stock’s 50 day moving average is $23.11 and its 200 day moving average is $24.72.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results 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 firm had revenue of $326.61 million during the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. Research analysts predict that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio is 31.09%.

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.