Benchmark Reaffirms “Hold” Rating for Magnolia Oil & Gas (NYSE:MGY)

Benchmark reiterated their hold rating on shares of Magnolia Oil & Gas (NYSE:MGY) in a research note issued to investors on Tuesday, Benzinga reports.

A number of other equities analysts also recently weighed in on MGY. Piper Sandler restated a neutral rating and issued a $29.00 target price on shares of Magnolia Oil & Gas in a research note on Friday, April 19th. Wells Fargo & Company boosted their target price on Magnolia Oil & Gas from $23.00 to $27.00 and gave the stock an equal weight rating in a research note on Thursday, April 18th. Citigroup boosted their target price on Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a sell rating in a research note on Monday, April 15th. Truist Financial boosted their target price on Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a buy rating in a research note on Friday, February 16th. Finally, The Goldman Sachs Group boosted their target price on Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a buy rating in a research note on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $27.63.

Magnolia Oil & Gas Stock Performance

Shares of MGY opened at $26.29 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a 50 day moving average price of $24.60 and a two-hundred day moving average price of $22.50. The firm has a market capitalization of $5.37 billion, a P/E ratio of 12.82, a P/E/G ratio of 1.59 and a beta of 2.05. Magnolia Oil & Gas has a 52 week low of $18.72 and a 52 week high of $27.33.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The company had revenue of $322.63 million for the quarter, compared to the consensus estimate of $324.95 million. Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. Equities analysts forecast that Magnolia Oil & Gas will post 2.09 earnings per share 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 paid a $0.13 dividend. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.52 annualized dividend and a yield of 1.98%. Magnolia Oil & Gas’s dividend payout ratio is presently 25.37%.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Lindbrook Capital LLC raised its holdings in Magnolia Oil & Gas by 61.5% during the 1st quarter. Lindbrook Capital LLC now owns 1,647 shares of the company’s stock valued at $43,000 after acquiring an additional 627 shares during the period. New York State Teachers Retirement System bought a new stake in Magnolia Oil & Gas during the 1st quarter valued at $1,178,000. Albert D Mason Inc. raised its holdings in Magnolia Oil & Gas by 97.7% during the 1st quarter. Albert D Mason Inc. now owns 61,479 shares of the company’s stock valued at $1,595,000 after acquiring an additional 30,385 shares during the period. Louisiana State Employees Retirement System bought a new stake in Magnolia Oil & Gas during the 1st quarter valued at $2,380,000. Finally, Amalgamated Bank raised its holdings in Magnolia Oil & Gas by 133.5% during the 1st quarter. Amalgamated Bank now owns 58,275 shares of the company’s stock valued at $1,512,000 after acquiring an additional 33,315 shares during the period. Institutional investors own 94.73% of the company’s stock.

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.