Magnolia Oil & Gas Corp (NYSE:MGY) Given Average Recommendation of "Hold" by 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 a consensus recommendation of "Hold" from the thirteen ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $26.6667.

MGY has been the topic of several recent research reports. Citigroup restated a "sell" rating on shares of Magnolia Oil & Gas in a report on Thursday, July 10th. Piper Sandler raised their price objective on Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Wells Fargo & Company cut their price objective on 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 reissued a "buy" rating and issued 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 lifted their price target on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd.

Hedge Funds Weigh In On Magnolia Oil & Gas

Institutional investors have recently made changes to their positions in the business. Mariner LLC boosted its stake in Magnolia Oil & Gas by 1.8% during the 4th quarter. Mariner LLC now owns 43,229 shares of the company's stock valued at $1,011,000 after purchasing an additional 762 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Magnolia Oil & Gas by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,768,047 shares of the company's stock valued at $111,475,000 after acquiring an additional 86,166 shares during the period. MetLife Investment Management LLC grew its stake in shares of Magnolia Oil & Gas by 5.7% in the fourth quarter. MetLife Investment Management LLC now owns 105,622 shares of the company's stock worth $2,469,000 after acquiring an additional 5,736 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake in shares of 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 during the last quarter. Finally, Susquehanna International Group LLP increased its position in Magnolia Oil & Gas by 86.9% during the fourth quarter. Susquehanna International Group LLP now owns 150,512 shares of the company's stock worth $3,519,000 after acquiring an additional 69,995 shares during the period. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Price Performance

Shares of MGY opened at $23.3350 on Friday. The firm has a market cap of $4.45 billion, a PE ratio of 12.22, a PEG ratio of 3.00 and a beta of 1.31. The firm's 50 day moving average price is $23.51 and its 200 day moving average price is $22.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.44 and a current ratio of 1.44. Magnolia Oil & Gas has a twelve month low of $19.09 and a twelve month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $318.98 million for the quarter, compared to the consensus estimate of $311.58 million. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. Magnolia Oil & Gas's revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 EPS. As a group, research analysts expect that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 11th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, August 11th. Magnolia Oil & Gas's dividend payout ratio (DPR) 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.

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.