Magnolia Oil & Gas Corp (NYSE:MGY) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts rate Magnolia Oil & Gas “Moderate Buy”: Of 18 analysts, 11 recommend buying, two strongly recommend buying, and five rate it a hold. The average 12-month price target is $31.81 versus an opening price of $24.11.
• Quarterly results exceeded expectations: Magnolia reported EPS of $0.99, beating the $0.93 consensus estimate, while revenue rose 50.1% year over year to $478.81 million. Analysts forecast full-year EPS of $2.92.
• The company increased its dividend: The quarterly payout rose to $0.18 per share, equivalent to $0.72 annually and a 3.0% yield. Institutional investors own 94.73% of the company’s stock.

Shares of Magnolia Oil & Gas Corp (NYSE:MGY - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eighteen research firms that are presently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $31.81.

A number of equities research analysts have commented on MGY shares. Susquehanna upped their price target on Magnolia Oil & Gas from $36.00 to $37.00 and gave the company a "positive" rating in a research report on Tuesday, August 11th. Roth Capital cut their price objective on Magnolia Oil & Gas from $30.00 to $29.00 and set a "buy" rating on the stock in a research note on Thursday, July 23rd. UBS Group reduced their target price on Magnolia Oil & Gas from $38.00 to $34.00 and set a "buy" rating on the stock in a report on Friday, July 10th. Mizuho upgraded shares of Magnolia Oil & Gas to a "strong-buy" rating in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. upgraded shares of Magnolia Oil & Gas from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $32.00 to $33.00 in a research report on Tuesday, September 8th.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $24.11 on Friday. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 10.57 and a beta of 0.70. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.18. The business's 50-day moving average price is $26.06 and its 200-day moving average price is $27.66. Magnolia Oil & Gas has a 12 month low of $21.07 and a 12 month high of $32.76.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.06. Magnolia Oil & Gas had a return on equity of 21.04% and a net margin of 28.77%.The company had revenue of $478.81 million during the quarter, compared to the consensus estimate of $458.10 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The firm's revenue was up 50.1% compared to the same quarter last year. Equities research analysts forecast that Magnolia Oil & Gas will post 2.92 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 10th were given a $0.18 dividend. This is a boost from Magnolia Oil & Gas's previous quarterly dividend of $0.1650. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.72 annualized dividend and a dividend yield of 3.0%. Magnolia Oil & Gas's dividend payout ratio is 31.58%.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, Director David Khani purchased 8,000 shares of the business's stock in a transaction on Friday, August 7th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $200,000.00. Following the completion of the acquisition, the director owned 30,622 shares in the company, valued at approximately $765,550. The trade was a 35.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.92% of the company's stock.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several institutional investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership increased its stake in shares of Magnolia Oil & Gas by 790.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,263,808 shares of the company's stock worth $197,748,000 after purchasing an additional 5,560,619 shares during the last quarter. HITE Hedge Asset Management LLC lifted its stake in Magnolia Oil & Gas by 661.5% in the fourth quarter. HITE Hedge Asset Management LLC now owns 1,454,388 shares of the company's stock valued at $31,837,000 after purchasing an additional 1,263,407 shares during the last quarter. TD Asset Management Inc lifted its stake in Magnolia Oil & Gas by 26.6% in the fourth quarter. TD Asset Management Inc now owns 5,671,819 shares of the company's stock valued at $124,156,000 after purchasing an additional 1,193,458 shares during the last quarter. Epoch Investment Partners Inc. grew its holdings in Magnolia Oil & Gas by 28.8% during the fourth quarter. Epoch Investment Partners Inc. now owns 5,330,064 shares of the company's stock valued at $116,675,000 after purchasing an additional 1,191,438 shares during the period. Finally, Bank of America Corp DE grew its holdings in Magnolia Oil & Gas by 20.5% during the first quarter. Bank of America Corp DE now owns 3,877,361 shares of the company's stock valued at $122,408,000 after purchasing an additional 659,012 shares during the period. Institutional investors own 94.73% of the company's stock.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corporation NYSE: MGY is an independent energy company engaged in the acquisition, development, exploration and production of oil, natural gas and natural gas liquids. The company's operations are concentrated in the South Texas region of the United States.

Magnolia primarily develops assets in the Giddings Field, which spans parts of Gonzales and Fayette counties in Texas. Its acreage targets formations including the Eagle Ford Shale and the Austin Chalk, where the company uses horizontal drilling and hydraulic fracturing to produce hydrocarbons.

The company was established in 2017 through a combination involving South Texas oil and gas assets and became a publicly traded company in 2018.

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