Magnolia Oil & Gas Co. (NYSE:MGY) Receives Consensus Rating of "Hold" from Analysts

Shares of Magnolia Oil & Gas Co. (NYSE:MGY - Get Free Report) have been given a consensus recommendation of "Hold" by the fifteen brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $27.14.

Several research firms recently commented on MGY. Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a report on Wednesday, March 5th. JPMorgan Chase & Co. dropped 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 Magnolia Oil & Gas from $25.00 to $24.00 and set a "neutral" rating on the stock in a report on Tuesday. Johnson Rice lowered Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a report on Tuesday, January 28th. Finally, UBS Group began coverage on Magnolia Oil & Gas in a report on Tuesday, April 22nd. They issued a "buy" rating and a $26.00 target price on the stock.

Magnolia Oil & Gas Stock Up 1.3%

Magnolia Oil & Gas stock opened at $23.31 on Wednesday. Magnolia Oil & Gas has a twelve month low of $19.09 and a twelve month high of $29.02. The stock's fifty day simple moving average is $22.39 and its 200-day simple moving average is $24.14. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $4.53 billion, a P/E ratio of 12.08, a P/E/G ratio of 3.01 and a beta of 1.25.

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

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 12th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, May 12th. Magnolia Oil & Gas's payout ratio is 29.85%.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros bought 2,500 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the purchase, the chief executive officer now owns 892,372 shares of the company's stock, valued at approximately $19,676,802.60. This represents a 0.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several hedge funds have recently made changes to their positions in MGY. Barclays PLC boosted its stake in shares of Magnolia Oil & Gas by 62.5% during the third quarter. Barclays PLC now owns 1,653,736 shares of the company's stock worth $40,383,000 after buying an additional 636,049 shares during the period. Park Avenue Securities LLC lifted its position in Magnolia Oil & Gas by 30.8% in the fourth quarter. Park Avenue Securities LLC now owns 13,336 shares of the company's stock valued at $312,000 after purchasing an additional 3,142 shares during the period. Argent Capital Management LLC lifted its position in Magnolia Oil & Gas by 36.7% in the fourth quarter. Argent Capital Management LLC now owns 53,720 shares of the company's stock valued at $1,256,000 after purchasing an additional 14,430 shares during the period. Albert D Mason Inc. lifted its position in Magnolia Oil & Gas by 0.7% in the fourth quarter. Albert D Mason Inc. now owns 61,497 shares of the company's stock valued at $1,438,000 after purchasing an additional 411 shares during the period. Finally, Mitsubishi UFJ Asset Management UK Ltd. acquired a new stake in Magnolia Oil & Gas in the fourth quarter valued at about $912,000. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Company Profile

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.