Brokerages Set Magnolia Oil & Gas Co. (NYSE:MGY) PT at $25.71

Magnolia Oil & Gas Co. (NYSE:MGY) has earned a consensus rating of “Hold” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $26.29.

A number of equities research analysts recently commented on the company. Citigroup upped their target price on Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a research report on Monday. The Goldman Sachs Group upped their target price on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Piper Sandler lowered their price objective on Magnolia Oil & Gas from $30.00 to $29.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. Wells Fargo & Company lowered their price objective on Magnolia Oil & Gas from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Friday, January 19th. Finally, Truist Financial upped their price objective on Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 16th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Mather Group LLC. acquired a new stake in Magnolia Oil & Gas in the first quarter valued at $27,000. PNC Financial Services Group Inc. grew its stake in shares of Magnolia Oil & Gas by 33.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 53,570 shares of the company’s stock valued at $1,141,000 after buying an additional 13,288 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Magnolia Oil & Gas by 15.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 790,363 shares of the company’s stock valued at $16,827,000 after buying an additional 103,183 shares in the last quarter. DRW Securities LLC acquired a new stake in shares of Magnolia Oil & Gas in the fourth quarter valued at about $1,392,000. Finally, GSA Capital Partners LLP acquired a new stake in Magnolia Oil & Gas during the 4th quarter valued at approximately $304,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

Shares of MGY stock opened at $26.19 on Tuesday. Magnolia Oil & Gas has a fifty-two week low of $18.72 and a fifty-two week high of $27.33. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.68 and a beta of 2.05. 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’s 50-day simple moving average is $23.74 and its 200-day simple moving average is $22.29.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results 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). The business had revenue of $322.63 million for the quarter, compared to analysts’ expectations of $324.95 million. Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. As a group, equities analysts forecast that Magnolia Oil & Gas will post 2.03 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were paid a dividend of $0.13 per share. This is a boost 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 1.99%. Magnolia Oil & Gas’s payout ratio is presently 25.37%.

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.