Magnolia Oil & Gas Corp (NYSE:MGY) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Magnolia Oil & Gas has a consensus analyst rating of Hold, with 9 analysts rating it Hold and 8 rating it Buy. The average 12-month price target is about $31.08.
• The company recently beat quarterly earnings expectations, reporting EPS of $0.54 versus the $0.51 consensus and revenue of $358.5 million. Revenue rose 2.3% year over year, and analysts expect full-year EPS of 2.75.
• Magnolia Oil & Gas also pays a quarterly dividend of $0.165 per share, equal to an annualized yield of about 2.6%. Institutional ownership remains high, with hedge funds and other investors holding 94.73% of shares.

Magnolia Oil & Gas Corp (NYSE:MGY - Get Free Report) has received an average recommendation of "Hold" from the seventeen ratings firms that are presently covering the company, MarketBeat reports. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $31.0833.

MGY has been the subject of a number of research reports. Wells Fargo & Company decreased their target price on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 13th. Roth Capital raised Magnolia Oil & Gas from a "neutral" rating to a "buy" rating and set a $31.00 price objective for the company in a report on Monday, June 22nd. Mizuho upped their price objective on Magnolia Oil & Gas from $33.00 to $35.00 and gave the company an "outperform" rating in a research report on Wednesday, May 27th. KeyCorp reissued an "overweight" rating on shares of Magnolia Oil & Gas in a report on Monday, June 29th. Finally, Citigroup lowered their target price on Magnolia Oil & Gas from $35.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, April 13th.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $25.78 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average price of $27.59 and a 200-day moving average price of $27.16. Magnolia Oil & Gas has a 52 week low of $21.07 and a 52 week high of $32.76. The firm has a market capitalization of $4.77 billion, a PE ratio of 14.99 and a beta of 0.70.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The company had revenue of $358.51 million for the quarter, compared to the consensus estimate of $349.89 million. During the same quarter in the prior year, the firm earned $0.54 earnings per share. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities research analysts expect that Magnolia Oil & Gas will post 2.75 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.66 annualized dividend and a dividend yield of 2.6%. Magnolia Oil & Gas's dividend payout ratio is presently 38.37%.

Hedge Funds Weigh In On Magnolia Oil & Gas

A number of institutional investors and hedge funds have recently made changes to their positions in MGY. Valued Wealth Advisors LLC purchased a new stake in Magnolia Oil & Gas during the first quarter valued at approximately $29,000. Salomon & Ludwin LLC raised its position in Magnolia Oil & Gas by 130.1% in the fourth quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company's stock worth $29,000 after acquiring an additional 760 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Magnolia Oil & Gas by 165.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company's stock worth $31,000 after acquiring an additional 864 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in shares of Magnolia Oil & Gas during the 2nd quarter worth $39,000. Finally, Torren Management LLC bought a new stake in shares of Magnolia Oil & Gas during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 94.73% of the company's stock.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp NYSE: MGY is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company's core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).

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