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

Magnolia Oil & Gas Corp (NYSE:MGY) has earned an average rating of “Moderate Buy” from the sixteen brokerages that are currently covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $28.90.

A number of analysts recently weighed in on the stock. Piper Sandler raised their price target on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a report on Wednesday, January 21st. UBS Group increased their price objective on Magnolia Oil & Gas from $29.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Bank of America raised Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and lifted their target price for the company from $26.00 to $28.00 in a research note on Friday, January 16th. Finally, BMO Capital Markets initiated coverage on Magnolia Oil & Gas in a research report on Friday, January 9th. They set an “outperform” rating and a $27.00 target price for the company.

Insider Activity at Magnolia Oil & Gas

In other news, EVP Timothy D. Yang sold 150,000 shares of Magnolia Oil & Gas stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $29.29, for a total transaction of $4,393,500.00. Following the completion of the sale, the executive vice president owned 526,661 shares in the company, valued at $15,425,900.69. The trade was a 22.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher G. Stavros sold 119,954 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $29.29, for a total transaction of $3,513,452.66. Following the sale, the chief executive officer directly owned 883,592 shares of the company’s stock, valued at approximately $25,880,409.68. This trade represents a 11.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 338,954 shares of company stock worth $9,911,733. Insiders own 0.93% of the company’s stock.

Institutional Trading of Magnolia Oil & Gas

A number of institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. raised its position in shares of Magnolia Oil & Gas by 22.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 7,869 shares of the company’s stock valued at $172,000 after acquiring an additional 1,449 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Magnolia Oil & Gas in the 4th quarter worth $260,000. Caitlin John LLC bought a new position in shares of Magnolia Oil & Gas in the 4th quarter worth $329,000. Empowered Funds LLC grew its stake in shares of Magnolia Oil & Gas by 111.4% during the fourth quarter. Empowered Funds LLC now owns 146,186 shares of the company’s stock worth $3,200,000 after purchasing an additional 77,025 shares during the period. Finally, XTX Topco Ltd grew its stake in shares of Magnolia Oil & Gas by 599.0% during the fourth quarter. XTX Topco Ltd now owns 219,040 shares of the company’s stock worth $4,795,000 after purchasing an additional 187,703 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Down 0.2%

Shares of NYSE MGY opened at $29.43 on Tuesday. Magnolia Oil & Gas has a 12-month low of $19.09 and a 12-month high of $29.78. The firm’s 50-day simple moving average is $25.89 and its 200 day simple moving average is $24.09. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.20. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 17.11 and a beta of 0.89.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. The firm had revenue of $317.63 million during the quarter, compared to analysts’ expectations of $322.18 million. During the same quarter last year, the company posted $0.44 EPS. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, research analysts expect that Magnolia Oil & Gas will post 2.1 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 Monday, March 2nd. Shareholders of record on Tuesday, February 10th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $0.66 annualized dividend and a yield of 2.2%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 38.37%.

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).