Magnolia Oil & Gas Co. (NYSE:MGY) Receives $27.67 Average Target Price from Analysts

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have been given a consensus rating of “Hold” by the thirteen research firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $27.58.

A number of analysts have issued reports on the company. Susquehanna lowered their target price on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Wells Fargo & Company downgraded shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $26.00 to $22.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. dropped their target price on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Piper Sandler reduced their price target on shares of Magnolia Oil & Gas from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Finally, Truist Financial boosted their price objective on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 1st.

Magnolia Oil & Gas Price Performance

Shares of Magnolia Oil & Gas stock opened at $22.89 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The firm has a fifty day simple moving average of $26.31 and a 200-day simple moving average of $25.60. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 1.29 and a beta of 1.99. Magnolia Oil & Gas has a 1-year low of $19.16 and a 1-year high of $29.02.

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

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Friday, November 8th. Magnolia Oil & Gas’s payout ratio is 25.74%.

Insider Transactions at Magnolia Oil & Gas

In related news, Director Ltd. Enervest sold 7,000,000 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $25.86, for a total value of $181,020,000.00. Following the sale, the director now owns 2,099,403 shares of the company’s stock, valued at $54,290,561.58. The trade was a 76.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its position in Magnolia Oil & Gas by 4.2% in the third quarter. State Street Corp now owns 10,700,257 shares of the company’s stock valued at $261,300,000 after buying an additional 435,326 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Magnolia Oil & Gas by 9.9% in the 2nd quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock worth $237,927,000 after acquiring an additional 847,542 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Magnolia Oil & Gas by 16.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock worth $114,554,000 after acquiring an additional 627,933 shares during the last quarter. Geode Capital Management LLC increased its holdings in Magnolia Oil & Gas by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,107,769 shares of the company’s stock valued at $100,332,000 after purchasing an additional 116,431 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Magnolia Oil & Gas by 1.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,061,846 shares of the company’s stock valued at $74,770,000 after purchasing an additional 50,351 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

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.