Magnolia Oil & Gas Co. (NYSE:MGY) Given Average Rating of "Hold" by Brokerages

Shares of Magnolia Oil & Gas Co. (NYSE:MGY - Get Free Report) have been assigned a consensus recommendation of "Hold" from the fifteen research firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $26.93.

Several equities analysts have recently commented on MGY shares. Susquehanna lowered their price target on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Citigroup reduced their price objective on shares of Magnolia Oil & Gas from $22.00 to $19.00 and set a "sell" rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. decreased their target price on Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Piper Sandler dropped their target price on shares of Magnolia Oil & Gas from $25.00 to $24.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Finally, Bank of America upped their price target on Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd.

Magnolia Oil & Gas Stock Up 2.8%

Shares of Magnolia Oil & Gas stock opened at $22.75 on Friday. The business has a 50-day moving average of $21.60 and a 200-day moving average of $23.59. Magnolia Oil & Gas has a 1-year low of $19.09 and a 1-year high of $29.02. The company has a market capitalization of $4.38 billion, a PE ratio of 11.78, a P/E/G ratio of 3.01 and a beta of 1.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The firm had revenue of $350.30 million during the quarter, compared to analyst estimates of $337.83 million. During the same period in the previous year, the company earned $0.46 earnings per share. Magnolia Oil & Gas's quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities analysts forecast that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 12th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend was Monday, May 12th. Magnolia Oil & Gas's payout ratio is 29.85%.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Magnolia Oil & Gas by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company's stock valued at $489,535,000 after acquiring an additional 452,836 shares during the period. First Trust Advisors LP lifted its position in shares of Magnolia Oil & Gas by 24.6% during the 4th quarter. First Trust Advisors LP now owns 15,410,496 shares of the company's stock worth $360,297,000 after buying an additional 3,038,709 shares during the period. American Century Companies Inc. lifted its holdings in shares of Magnolia Oil & Gas by 5.7% during the first quarter. American Century Companies Inc. now owns 10,502,353 shares of the company's stock valued at $265,289,000 after acquiring an additional 562,223 shares during the period. Janus Henderson Group PLC boosted its position in Magnolia Oil & Gas by 11.7% in the fourth quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company's stock valued at $149,559,000 after buying an additional 667,973 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Magnolia Oil & Gas by 12.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,365,892 shares of the company's stock worth $135,541,000 after acquiring an additional 597,845 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.