Magnolia Oil & Gas (NYSE:MGY) Stock Gets Price Target Cut from Wells Fargo & Company

Magnolia Oil & Gas (NYSE:MGY) had its price objective decreased by Wells Fargo & Company from $36.00 to $30.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other research firms also recently issued reports on MGY. Siebert Williams Shank raised shares of Magnolia Oil & Gas from a “hold” rating to a “buy” rating and lifted their price target for the stock from $30.00 to $32.00 in a research note on Wednesday, September 23rd. Truist Financial upped their price objective on shares of Magnolia Oil & Gas from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, October 2nd. Zacks Research upgraded Magnolia Oil & Gas from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 14th. Mizuho upgraded Magnolia Oil & Gas to a “strong-buy” rating in a research note on Friday, July 31st. Finally, KeyCorp reaffirmed an “overweight” rating and set a $38.00 target price on shares of Magnolia Oil & Gas in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.53.

Magnolia Oil & Gas Stock Up 3.4%

NYSE MGY opened at $25.36 on Wednesday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.18. Magnolia Oil & Gas has a fifty-two week low of $21.07 and a fifty-two week high of $32.76. The business has a 50 day moving average price of $25.86 and a two-hundred day moving average price of $27.03. The stock has a market cap of $6.01 billion, a PE ratio of 11.12 and a beta of 0.80.

Magnolia Oil & Gas (NYSE:MGY) last posted its 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. The business had revenue of $478.81 million for the quarter, compared to analysts’ expectations of $458.10 million. Magnolia Oil & Gas had a net margin of 28.77% and a return on equity of 21.04%. The business’s revenue for the quarter was up 50.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 earnings per share. As a group, sell-side analysts predict that Magnolia Oil & Gas will post 2.72 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 10th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.72 annualized dividend and a yield of 2.8%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.1650. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 31.58%.

Insider Buying and Selling at Magnolia Oil & Gas

In related news, Director David Khani bought 8,000 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was bought at an average price of $25.00 per share, with a total value of $200,000.00. Following the transaction, the director owned 30,622 shares of the company’s stock, valued at approximately $765,550. This trade represents a 35.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Magnolia Oil & Gas

Hedge funds have recently bought and sold shares of the company. Planning Project LLC bought a new position in Magnolia Oil & Gas during the 2nd quarter worth approximately $1,434,000. Janus Henderson Group PLC increased its holdings in shares of Magnolia Oil & Gas by 2.8% in the 1st quarter. Janus Henderson Group PLC now owns 6,279,636 shares of the company’s stock valued at $198,248,000 after acquiring an additional 170,174 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Magnolia Oil & Gas during the second quarter worth $3,077,000. Y Intercept Hong Kong Ltd lifted its stake in Magnolia Oil & Gas by 481.9% during the first quarter. Y Intercept Hong Kong Ltd now owns 153,445 shares of the company’s stock worth $4,844,000 after purchasing an additional 127,077 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its holdings in Magnolia Oil & Gas by 45.7% in the first quarter. Edgestream Partners L.P. now owns 352,998 shares of the company’s stock worth $11,144,000 after purchasing an additional 110,677 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Magnolia Oil & Gas

Here are the key news stories impacting Magnolia Oil & Gas this week:

• Neutral Sentiment: Wells Fargo maintained its Hold rating while cutting its price target, indicating limited near-term upside in the bank’s view. Magnolia Oil & Gas Stock Price Target Cut by Wells Fargo & Company
• Neutral Sentiment: Scotiabank initiated coverage with a Sector Perform rating, signaling expectations that MGY will perform broadly in line with the oil-and-gas sector. Scotiabank Initiates Coverage on Magnolia Oil & Gas With Sector Perform Rating
• Negative Sentiment: Zacks Research downgraded Magnolia Oil & Gas from Strong Buy to Hold, removing a bullish analyst endorsement. Zacks Research Downgrades Magnolia Oil & Gas
• Negative Sentiment: Zacks cut its Q3 2026 EPS forecast to $0.38 from $0.40 and reduced estimates for Q4 2026 and full-year 2026 to $0.58 and $2.48, respectively, from $0.78 and $2.71.
• Negative Sentiment: The revisions extend into 2027 and 2028: FY2027 EPS was lowered to $2.23 from $2.82, while FY2028 EPS was reduced to $2.80 from $3.19. Quarterly estimates for Q1–Q3 2027 and Q1–Q3 2028 were also cut, pointing to weaker expected earnings momentum.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corporation is an independent oil and natural gas exploration and production company. The company focuses on the acquisition, development, exploration and production of crude oil, natural gas and natural gas liquids.

Magnolia’s operations are concentrated in the Eagle Ford Shale and Austin Chalk formations in South Texas, including its Karnes and Giddings areas. Its production activities are supported by established infrastructure and involve the development of unconventional oil and gas resources.

The company was formed in 2017 through a business combination involving TPG Pace Energy Holdings Corp.