Magnolia Oil & Gas’ (MGY) “Neutral” Rating Reaffirmed at Piper Sandler

Piper Sandler reiterated their neutral rating on shares of Magnolia Oil & Gas (NYSE:MGY) in a research note issued to investors on Friday, MarketBeat.com reports. Piper Sandler currently has a $29.00 price target on the stock.

A number of other research analysts have also weighed in on MGY. Bank of America began coverage on Magnolia Oil & Gas in a research report on Tuesday, February 27th. They set a buy rating and a $25.00 price objective for the company. Citigroup raised their price objective on Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a sell rating in a research report on Monday, April 15th. Truist Financial lifted their target price on Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a buy rating in a report on Friday, February 16th. Wells Fargo & Company lifted their target price on Magnolia Oil & Gas from $23.00 to $27.00 and gave the stock an equal weight rating in a report on Thursday. Finally, Mizuho lifted their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a neutral rating in a report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Magnolia Oil & Gas has an average rating of Hold and a consensus target price of $27.14.

Magnolia Oil & Gas Stock Down 0.3 %

MGY stock opened at $25.62 on Friday. Magnolia Oil & Gas has a twelve month low of $18.72 and a twelve month high of $27.33. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.21. The firm has a market cap of $5.23 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.58 and a beta of 2.05. The business has a 50 day moving average of $24.07 and a 200 day moving average of $22.36.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. The company had revenue of $322.63 million for the quarter, compared to the consensus estimate of $324.95 million. On average, research analysts forecast that Magnolia Oil & Gas will post 2.08 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were issued a $0.13 dividend. The ex-dividend date was Thursday, February 15th. This represents a $0.52 annualized dividend and a dividend yield of 2.03%. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. Magnolia Oil & Gas’s payout ratio is presently 25.37%.

Institutional Trading of Magnolia Oil & Gas

Several large investors have recently modified their holdings of MGY. Advisor Group Holdings Inc. grew its holdings in shares of Magnolia Oil & Gas by 121.9% in the first quarter. Advisor Group Holdings Inc. now owns 16,774 shares of the company’s stock worth $396,000 after acquiring an additional 9,214 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Magnolia Oil & Gas by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 1,118,918 shares of the company’s stock worth $26,462,000 after acquiring an additional 39,115 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Magnolia Oil & Gas by 320.2% in the first quarter. Acadian Asset Management LLC now owns 10,686 shares of the company’s stock worth $252,000 after acquiring an additional 8,143 shares during the period. MetLife Investment Management LLC grew its holdings in shares of Magnolia Oil & Gas by 55.1% in the first quarter. MetLife Investment Management LLC now owns 77,409 shares of the company’s stock worth $1,831,000 after acquiring an additional 27,498 shares during the period. Finally, Panagora Asset Management Inc. bought a new stake in shares of Magnolia Oil & Gas in the first quarter worth $1,084,000. 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.