Magnolia Oil & Gas Corp (NYSE:MGY) Receives $31.62 Average Price Target from Analysts

Shares of Magnolia Oil & Gas Corp (NYSE:MGY) have been assigned an average rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $31.6154.

A number of research analysts have weighed in on the stock. Mizuho upgraded shares of Magnolia Oil & Gas to a “strong-buy” rating in a research report on Friday, July 31st. Roth Capital reduced their target price on shares of 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. Johnson Rice upgraded shares of Magnolia Oil & Gas from a “hold” rating to an “accumulate” rating and lowered their target price for the stock from $33.00 to $32.00 in a report on Monday, August 17th. Citigroup dropped their price target on shares of Magnolia Oil & Gas from $29.00 to $27.00 and set a “neutral” rating for the company in a research note on Tuesday, August 11th. Finally, Zacks Research downgraded shares of Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th.

Magnolia Oil & Gas Price Performance

Shares of Magnolia Oil & Gas stock opened at $26.82 on Tuesday. The stock has a market cap of $6.36 billion, a price-to-earnings ratio of 11.76 and a beta of 0.70. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.58 and a current ratio of 1.58. The stock has a 50 day moving average price of $26.03 and a 200-day moving average price of $27.83. Magnolia Oil & Gas has a one year low of $21.07 and a one year high of $32.76.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.06. The firm had revenue of $478.81 million for the quarter, compared to the consensus estimate of $458.10 million. Magnolia Oil & Gas had a return on equity of 21.04% and a net margin of 28.77%.The company’s revenue for the quarter was up 50.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS. Equities analysts expect that Magnolia Oil & Gas will post 2.91 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 10th were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, August 10th. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 2.7%. Magnolia Oil & Gas’s payout ratio is 31.58%.

Insider Activity

In other Magnolia Oil & Gas news, Director David Khani bought 8,000 shares of the company’s stock in a transaction on Friday, August 7th. The stock was acquired at an average price of $25.00 per share, for a total transaction of $200,000.00. Following the completion of the transaction, the director directly owned 30,622 shares of the company’s stock, valued at approximately $765,550. This represents a 35.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of institutional investors and hedge funds have recently modified their holdings of MGY. Valued Wealth Advisors LLC bought a new position in Magnolia Oil & Gas in the 1st quarter valued at $29,000. EverSource Wealth Advisors LLC lifted its position in shares of Magnolia Oil & Gas by 165.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock worth $31,000 after purchasing an additional 864 shares during the last quarter. Harbor Investment Advisory LLC purchased a new stake in shares of Magnolia Oil & Gas during the second quarter valued at $39,000. Parallel Advisors LLC boosted its stake in shares of Magnolia Oil & Gas by 79.8% during the fourth quarter. Parallel Advisors LLC now owns 1,769 shares of the company’s stock valued at $39,000 after purchasing an additional 785 shares during the period. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Magnolia Oil & Gas by 90.5% during the second quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company’s stock valued at $50,000 after purchasing an additional 1,051 shares during the period. 94.73% of the stock is owned by institutional investors.

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).