Magnolia Oil & Gas Corp (NYSE:MGY) Receives $26.67 Consensus Price Target from Brokerages

Key Points

• Magnolia Oil & Gas Corp received a consensus recommendation of "Hold" from thirteen brokerages, with two sell, eight hold, and three buy ratings.
• The average 1-year price objective among analysts is $26.67, reflecting mixed outlooks from various research reports.
• The company recently announced a $0.15 quarterly dividend, representing an annual yield of 2.6%, with a payout ratio of 31.41%.

Shares of Magnolia Oil & Gas Corp (NYSE:MGY - Get Free Report) have earned an average rating of "Hold" from the fourteen research firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $26.6667.

A number of brokerages recently weighed in on MGY. William Blair began coverage on shares of Magnolia Oil & Gas in a research note on Monday. They set an "outperform" rating on the stock. Citigroup restated a "sell" rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. Wells Fargo & Company cut their price objective on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a research note on Monday, June 16th. UBS Group restated a "buy" rating and set a $29.00 price objective (up from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Finally, Bank of America boosted their price target on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several hedge funds and other institutional investors have recently bought and sold shares of the business. State of Wyoming raised its position in Magnolia Oil & Gas by 8.2% in the first quarter. State of Wyoming now owns 5,777 shares of the company's stock worth $146,000 after acquiring an additional 440 shares in the last quarter. OneDigital Investment Advisors LLC raised its position in Magnolia Oil & Gas by 3.0% in the fourth quarter. OneDigital Investment Advisors LLC now owns 15,768 shares of the company's stock worth $369,000 after acquiring an additional 464 shares in the last quarter. Vista Finance LLC raised its position in Magnolia Oil & Gas by 4.0% in the second quarter. Vista Finance LLC now owns 12,134 shares of the company's stock worth $273,000 after acquiring an additional 471 shares in the last quarter. ProShare Advisors LLC raised its position in Magnolia Oil & Gas by 1.2% in the second quarter. ProShare Advisors LLC now owns 41,617 shares of the company's stock worth $936,000 after acquiring an additional 495 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in Magnolia Oil & Gas by 16.8% in the first quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock worth $111,000 after acquiring an additional 629 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Stock Performance

Shares of NYSE MGY traded up $0.61 during midday trading on Friday, reaching $24.75. 2,246,814 shares of the company traded hands, compared to its average volume of 2,395,099. Magnolia Oil & Gas has a 52 week low of $19.09 and a 52 week high of $29.02. The stock has a 50-day moving average price of $23.53 and a 200 day moving average price of $22.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market cap of $4.72 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 3.16 and a beta of 1.31.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.03. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. The business had revenue of $318.98 million for the quarter, compared to analysts' expectations of $311.58 million. During the same period in the previous year, the business earned $0.51 earnings per share. The company's revenue was down 5.3% on a year-over-year basis. Sell-side analysts anticipate that Magnolia Oil & Gas will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 11th will be given a $0.15 dividend. The ex-dividend date is Monday, August 11th. This represents a $0.60 annualized dividend and a yield of 2.4%. Magnolia Oil & Gas's payout ratio is 31.41%.

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.