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

Magnolia Oil & Gas (NYSE:MGY) had its price target lifted by Susquehanna from $28.00 to $31.00 in a research note released on Monday, Benzinga reports. Susquehanna currently has a positive rating on the stock.

Other equities analysts have also recently issued reports about the company. Citigroup lifted their target price on Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a sell rating in a report on Monday, April 15th. Mizuho lifted their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a neutral rating in a report on Thursday, March 14th. Truist Financial lifted their target price on Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a buy rating in a report on Friday, February 16th. Piper Sandler restated a neutral rating and issued a $29.00 target price on shares of Magnolia Oil & Gas in a report on Friday, April 19th. Finally, Bank of America assumed coverage on Magnolia Oil & Gas in a report on Tuesday, February 27th. They issued a buy rating and a $25.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $27.63.

Magnolia Oil & Gas Stock Up 0.4 %

Shares of MGY stock opened at $26.11 on Monday. Magnolia Oil & Gas has a 1 year low of $18.72 and a 1 year high of $27.33. The stock has a market cap of $5.33 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.57 and a beta of 2.05. The business’s fifty day moving average is $24.50 and its 200-day moving average is $22.47. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.88 and a current ratio of 1.88.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.04). Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. The firm had revenue of $322.63 million for the quarter, compared to analyst estimates of $324.95 million. 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 disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were given 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 was Thursday, February 15th. This represents a $0.52 dividend on an annualized basis and a yield of 1.99%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 25.37%.

Institutional Trading of Magnolia Oil & Gas

A number of institutional investors have recently bought and sold shares of the company. First Trust Advisors LP boosted its position in Magnolia Oil & Gas by 20.2% during the fourth quarter. First Trust Advisors LP now owns 10,126,891 shares of the company’s stock valued at $215,602,000 after purchasing an additional 1,704,982 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Magnolia Oil & Gas by 2.1% in the fourth quarter. Victory Capital Management Inc. now owns 6,162,526 shares of the company’s stock worth $131,200,000 after buying an additional 128,097 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Magnolia Oil & Gas by 24.7% in the third quarter. American Century Companies Inc. now owns 6,009,953 shares of the company’s stock worth $137,688,000 after buying an additional 1,188,536 shares during the last quarter. Wasatch Advisors LP lifted its position in shares of Magnolia Oil & Gas by 2.2% in the fourth quarter. Wasatch Advisors LP now owns 3,679,262 shares of the company’s stock worth $78,331,000 after buying an additional 77,733 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Magnolia Oil & Gas by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,506,042 shares of the company’s stock worth $74,647,000 after buying an additional 257,806 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

About Magnolia Oil & Gas

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.