Magnolia Oil & Gas Corp (NYSE:MGY) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Magnolia Oil & Gas Corp (NYSE:MGY) have received a consensus rating of “Moderate Buy” from the seventeen brokerages that are presently covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $31.50.

MGY has been the topic of several recent analyst reports. Roth Capital decreased their price target on Magnolia Oil & Gas from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. Susquehanna lifted their price objective on Magnolia Oil & Gas from $35.00 to $36.00 and gave the company a “positive” rating in a report on Tuesday, July 21st. Wells Fargo & Company reduced their target price on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 13th. Citigroup lowered their target price on shares of Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. Finally, Truist Financial upgraded shares of Magnolia Oil & Gas from a “hold” rating to a “buy” rating and increased their target price for the stock from $32.00 to $33.00 in a research report on Tuesday, July 28th.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of hedge funds and other institutional investors have recently bought and sold shares of MGY. Lido Advisors LLC raised its position in Magnolia Oil & Gas by 2.4% in the 4th quarter. Lido Advisors LLC now owns 16,197 shares of the company’s stock worth $382,000 after purchasing an additional 387 shares during the last quarter. Oak Family Advisors LLC boosted its position in Magnolia Oil & Gas by 0.9% in the 4th quarter. Oak Family Advisors LLC now owns 47,620 shares of the company’s stock valued at $1,042,000 after buying an additional 410 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Magnolia Oil & Gas by 10.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,624 shares of the company’s stock valued at $102,000 after buying an additional 422 shares during the period. Coldstream Capital Management Inc. increased its stake in shares of Magnolia Oil & Gas by 3.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company’s stock valued at $380,000 after buying an additional 482 shares during the period. Finally, Stifel Financial Corp raised its position in shares of Magnolia Oil & Gas by 1.6% during the fourth quarter. Stifel Financial Corp now owns 36,980 shares of the company’s stock worth $809,000 after acquiring an additional 585 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Magnolia Oil & Gas Price Performance

NYSE:MGY opened at $24.77 on Friday. The company has a 50-day moving average of $26.23 and a 200-day moving average of $27.61. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 10.86 and a beta of 0.72. Magnolia Oil & Gas has a 52 week low of $21.07 and a 52 week high of $32.76. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.10 and a current ratio of 1.10.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. Magnolia Oil & Gas had a net margin of 28.77% and a return on equity of 21.39%. The firm had revenue of $478.81 million during the quarter, compared to analysts’ expectations of $458.10 million. During the same quarter last year, the company earned $0.41 earnings per share. The company’s revenue for the quarter was up 50.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Magnolia Oil & Gas will post 2.78 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 10th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, August 10th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 2.9%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 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).