Magnolia Oil & Gas Corp (NYSE:MGY) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Magnolia Oil & Gas Corp (NYSE:MGY) have been given an average recommendation of “Moderate Buy” by the seventeen brokerages that are presently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $31.5833.

Several equities research analysts recently issued reports on MGY shares. Wells Fargo & Company lifted their price objective on Magnolia Oil & Gas from $31.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday. KeyCorp reissued an “overweight” rating and set a $38.00 target price on shares of Magnolia Oil & Gas in a report on Wednesday. Susquehanna raised their target price on Magnolia Oil & Gas from $36.00 to $37.00 and gave the company a “positive” rating in a research report on Tuesday. Weiss Ratings raised Magnolia Oil & Gas from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday. Finally, Truist Financial upgraded Magnolia Oil & Gas from a “hold” rating to a “buy” rating and boosted their price target for the stock from $32.00 to $33.00 in a research report on Tuesday, July 28th.

Insider Activity

In other Magnolia Oil & Gas news, Director David M. Khani bought 8,000 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was acquired at an average price of $25.00 per share, with a total value of $200,000.00. Following the completion of the acquisition, the director directly owned 30,622 shares of the company’s stock, valued at $765,550. This represents a 35.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.92% of the stock is owned by insiders.

Hedge Funds Weigh In On Magnolia Oil & Gas

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Lido Advisors LLC grew its stake in Magnolia Oil & Gas by 2.4% during the 4th quarter. Lido Advisors LLC now owns 16,197 shares of the company’s stock valued at $382,000 after acquiring an additional 387 shares in the last quarter. Oak Family Advisors LLC lifted its stake in Magnolia Oil & Gas by 0.9% in the 4th quarter. Oak Family Advisors LLC now owns 47,620 shares of the company’s stock worth $1,042,000 after purchasing an additional 410 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Magnolia Oil & Gas by 10.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,624 shares of the company’s stock worth $102,000 after purchasing an additional 422 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of Magnolia Oil & Gas by 3.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company’s stock worth $380,000 after purchasing an additional 482 shares during the last quarter. Finally, Stifel Financial Corp grew its position in shares of Magnolia Oil & Gas by 1.6% in the fourth quarter. Stifel Financial Corp now owns 36,980 shares of the company’s stock valued at $809,000 after purchasing an additional 585 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Stock Performance

NYSE:MGY opened at $25.89 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.58 and a current ratio of 1.58. The stock has a market capitalization of $4.79 billion, a PE ratio of 11.36 and a beta of 0.72. Magnolia Oil & Gas has a fifty-two week low of $21.07 and a fifty-two week high of $32.76. The company has a fifty day moving average of $26.04 and a two-hundred day moving average of $27.70.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.06. The business had revenue of $478.81 million for the quarter, compared to analyst estimates of $458.10 million. Magnolia Oil & Gas had a net margin of 28.77% and a return on equity of 21.04%. The company’s revenue for the quarter was up 50.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 earnings per share. As a group, research analysts forecast that Magnolia Oil & Gas will post 2.79 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 10th will be paid a dividend of $0.18 per share. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.72 annualized dividend and a yield of 2.8%. Magnolia Oil & Gas’s dividend payout ratio is presently 31.58%.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).