Susquehanna Increases Magnolia Oil & Gas (NYSE:MGY) Price Target to $31.00

Magnolia Oil & Gas (NYSE:MGY) had its target price hoisted by Susquehanna from $28.00 to $31.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a positive rating on the stock.

Several other equities research analysts also recently issued reports on MGY. Piper Sandler restated a neutral rating and set a $29.00 price objective on shares of Magnolia Oil & Gas in a research report on Friday, April 19th. The Goldman Sachs Group lifted their price objective on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a buy rating in a research note on Tuesday, March 26th. Mizuho lifted their price objective on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a neutral rating in a research note on Thursday, March 14th. Wells Fargo & Company raised their target price on shares of Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an equal weight rating in a research report on Thursday, April 18th. Finally, Bank of America began coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, February 27th. They issued a buy rating and a $25.00 target price on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $27.63.

Magnolia Oil & Gas Trading Up 0.4 %

Magnolia Oil & Gas stock opened at $26.11 on Monday. The firm has a 50-day moving average of $24.50 and a 200-day moving average of $22.47. Magnolia Oil & Gas has a one year low of $18.72 and a one year high of $27.33. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.88 and a quick ratio of 1.88. The company has a market cap of $5.33 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 1.57 and a beta of 2.05.

Magnolia Oil & Gas (NYSE:MGY) last posted 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). Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. The business had revenue of $322.63 million for the quarter, compared to analyst estimates of $324.95 million. On average, equities analysts expect 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 announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were issued a $0.13 dividend. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. The ex-dividend date 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%.

Hedge Funds Weigh In On Magnolia Oil & Gas

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Albert D Mason Inc. increased its stake in Magnolia Oil & Gas by 1.6% in the fourth quarter. Albert D Mason Inc. now owns 31,094 shares of the company’s stock valued at $662,000 after purchasing an additional 490 shares in the last quarter. Signaturefd LLC increased its position in shares of Magnolia Oil & Gas by 6.7% during the third quarter. Signaturefd LLC now owns 8,325 shares of the company’s stock worth $191,000 after acquiring an additional 523 shares in the last quarter. AMG National Trust Bank increased its position in shares of Magnolia Oil & Gas by 1.3% during the third quarter. AMG National Trust Bank now owns 57,698 shares of the company’s stock worth $1,322,000 after acquiring an additional 730 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Magnolia Oil & Gas by 5.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,156 shares of the company’s stock worth $280,000 after acquiring an additional 730 shares in the last quarter. Finally, VisionPoint Advisory Group LLC increased its position in shares of Magnolia Oil & Gas by 112.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after acquiring an additional 813 shares in the last quarter. Institutional investors and hedge funds 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.