Magnolia Oil & Gas (NYSE:MGY) Stock Bumped Down to “Hold” by Wall Street Zen

Wall Street Zen cut shares of Magnolia Oil & Gas (NYSE:MGY) from a buy rating to a hold rating in a research report report published on Sunday morning,Wall Street Zen reports.

A number of other research firms also recently issued reports on MGY. Seaport Research Partners assumed coverage on shares of Magnolia Oil & Gas in a report on Thursday, September 3rd. They set a “neutral” rating for the company. Susquehanna lifted their target price on shares of Magnolia Oil & Gas from $36.00 to $37.00 and gave the stock a “positive” rating in a research note on Tuesday, August 11th. Williams Trading set a $32.00 price target on Magnolia Oil & Gas in a research report on Wednesday, September 23rd. Truist Financial reaffirmed a “buy” rating and issued a $37.00 target price (up from $35.00) on shares of Magnolia Oil & Gas in a research report on Friday. Finally, Weiss Ratings upgraded Magnolia Oil & Gas from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. One research 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. According to data from MarketBeat, Magnolia Oil & Gas currently has a consensus rating of “Moderate Buy” and an average price target of $31.59.

Magnolia Oil & Gas Stock Performance

NYSE:MGY opened at $23.66 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 10.61 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 business’s fifty day moving average is $25.44 and its 200 day moving average is $27.04.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.13. The firm had revenue of $513.89 million for the quarter, compared to analysts’ expectations of $474.39 million. Magnolia Oil & Gas had a return on equity of 19.90% and a net margin of 25.82%. The company’s revenue was up 58.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. Research analysts predict that Magnolia Oil & Gas will post 2.85 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 10th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, November 10th. Magnolia Oil & Gas’s dividend payout ratio is presently 32.29%.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several institutional investors and hedge funds have recently added to or reduced their stakes in MGY. Richardson Financial Services Inc. increased its holdings in Magnolia Oil & Gas by 76.4% during the third quarter. Richardson Financial Services Inc. now owns 1,374 shares of the company’s stock valued at $32,000 after buying an additional 595 shares during the last quarter. Harbor Investment Advisory LLC bought a new stake in Magnolia Oil & Gas during the second quarter valued at about $39,000. Ancora Advisors LLC purchased a new position in Magnolia Oil & Gas in the 2nd quarter worth approximately $51,000. Versant Capital Management Inc lifted its holdings in Magnolia Oil & Gas by 96.9% in the 2nd quarter. Versant Capital Management Inc now owns 2,257 shares of the company’s stock worth $58,000 after purchasing an additional 1,111 shares in the last quarter. Finally, Salomon & Ludwin LLC boosted its stake in Magnolia Oil & Gas by 55.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 2,444 shares of the company’s stock worth $57,000 after purchasing an additional 873 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

About Magnolia Oil & Gas