Brokerages Set Magnolia Oil & Gas Corp (NYSE:MGY) Target Price at $26.50

Shares of Magnolia Oil & Gas Corp (NYSE:MGY) have been assigned an average rating of “Hold” from the fourteen ratings firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $26.50.

A number of brokerages have recently commented on MGY. KeyCorp set a $29.00 price target on shares of Magnolia Oil & Gas and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Piper Sandler decreased their price target on Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, November 18th. Mizuho set a $29.00 target price on Magnolia Oil & Gas in a report on Friday, December 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Magnolia Oil & Gas in a report on Wednesday, October 8th.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several large investors have recently added to or reduced their stakes in MGY. American Century Companies Inc. lifted its stake in Magnolia Oil & Gas by 12.9% in the second quarter. American Century Companies Inc. now owns 11,861,231 shares of the company’s stock valued at $266,641,000 after buying an additional 1,358,878 shares during the period. Dimensional Fund Advisors LP grew its holdings in Magnolia Oil & Gas by 4.7% in the third quarter. Dimensional Fund Advisors LP now owns 6,369,713 shares of the company’s stock worth $152,051,000 after purchasing an additional 283,444 shares during the period. Wellington Management Group LLP raised its holdings in shares of Magnolia Oil & Gas by 2.2% during the third quarter. Wellington Management Group LLP now owns 5,225,168 shares of the company’s stock valued at $124,725,000 after purchasing an additional 113,458 shares during the period. Geode Capital Management LLC boosted its position in shares of Magnolia Oil & Gas by 5.6% during the 2nd quarter. Geode Capital Management LLC now owns 4,531,855 shares of the company’s stock worth $101,895,000 after purchasing an additional 238,356 shares in the last quarter. Finally, TD Asset Management Inc grew its stake in shares of Magnolia Oil & Gas by 55.7% in the 3rd quarter. TD Asset Management Inc now owns 4,478,361 shares of the company’s stock valued at $106,898,000 after buying an additional 1,601,809 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $21.71 on Thursday. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 2.93 and a beta of 0.93. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The business’s 50-day moving average price is $22.60 and its 200-day moving average price is $23.35. Magnolia Oil & Gas has a 12 month low of $19.09 and a 12 month high of $26.84.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.41. Magnolia Oil & Gas had a net margin of 25.90% and a return on equity of 18.10%. The business had revenue of $324.94 million during the quarter, compared to analyst estimates of $322.52 million. During the same quarter last year, the business earned $0.52 EPS. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. Equities research analysts forecast that Magnolia Oil & Gas will post 2.1 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 10th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Monday, November 10th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 33.52%.

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).