Magnolia Oil & Gas Corp (NYSE:MGY) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Magnolia Oil & Gas, with nine buy ratings, seven holds and one strong-buy rating. The average 12-month price target is $31.62, above the reported share price of $26.83.
• Magnolia exceeded quarterly expectations, reporting $0.99 EPS versus the $0.93 consensus estimate and $478.81 million in revenue, up 50.1% year over year. The company also raised its quarterly dividend to $0.18, or $0.72 annually, for a 2.7% yield.
• Insider and institutional interest remains notable: a director purchased $200,000 worth of shares, while hedge funds and other institutions own 94.73% of the stock.

Shares of Magnolia Oil & Gas Corp (NYSE:MGY - Get Free Report) have earned an average rating of "Moderate Buy" from the seventeen ratings firms that are currently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $31.6154.

Several research firms have issued reports on MGY. UBS Group cut their target price on Magnolia Oil & Gas from $38.00 to $34.00 and set a "buy" rating for the company in a research note on Friday, July 10th. Johnson Rice raised Magnolia Oil & Gas from a "hold" rating to an "accumulate" rating and decreased their target price for the stock from $33.00 to $32.00 in a research note on Monday, August 17th. Weiss Ratings raised shares of Magnolia Oil & Gas from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. KeyCorp reaffirmed an "overweight" rating and set a $38.00 target price on shares of Magnolia Oil & Gas in a research note on Wednesday, August 12th. Finally, Mizuho raised shares of Magnolia Oil & Gas to a "strong-buy" rating in a research report on Friday, July 31st.

Magnolia Oil & Gas Trading Up 2.2%

MGY stock opened at $26.83 on Tuesday. Magnolia Oil & Gas has a 52-week low of $21.07 and a 52-week high of $32.76. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.18. The firm has a market cap of $6.36 billion, a P/E ratio of 11.77 and a beta of 0.72. The company's 50-day simple moving average is $25.98 and its 200-day simple moving average is $27.80.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.93 by $0.06. Magnolia Oil & Gas had a net margin of 28.77% and a return on equity of 21.04%. The company had revenue of $478.81 million during the quarter, compared to analyst estimates of $458.10 million. During the same quarter in the previous year, the firm earned $0.41 EPS. The firm's revenue was up 50.1% compared to the same quarter last year. As a group, equities analysts forecast that Magnolia Oil & Gas will post 2.87 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

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

Insider Activity at Magnolia Oil & Gas

In other news, Director David M. Khani acquired 8,000 shares of the company's stock in a transaction on Friday, August 7th. The shares were bought at an average cost of $25.00 per share, with a total value of $200,000.00. Following the transaction, the director owned 30,622 shares in the company, valued at approximately $765,550. This trade represents a 35.36% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.92% of the company's stock.

Institutional Trading of Magnolia Oil & Gas

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

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