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

Key Points

• Magnolia Oil & Gas Corp has received a consensus rating of "Hold" from 13 research firms, with two selling, eight holding, and three buying recommendations.
• The average 1-year price target for Magnolia Oil & Gas stock is $26.67, reflecting varying outlooks from different analysts.
• Recently, Magnolia Oil & Gas announced a quarterly dividend of $0.15 per share, marking a 2.53% dividend yield.

Shares of Magnolia Oil & Gas Corp (NYSE:MGY - Get Free Report) have earned a consensus rating of "Hold" from the thirteen ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $26.67.

MGY has been the subject of several analyst reports. UBS Group restated a "buy" rating and issued a $29.00 target price (up from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Susquehanna cut their price target on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Bank of America increased their target price on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Wells Fargo & Company dropped their target price on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a report on Monday, June 16th. Finally, Piper Sandler increased their target price on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th.

Magnolia Oil & Gas Trading Down 2.0%

MGY traded down $0.49 during trading on Monday, hitting $23.90. 1,015,130 shares of the company's stock were exchanged, compared to its average volume of 2,672,661. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas has a 1 year low of $19.09 and a 1 year high of $29.02. The stock has a 50 day moving average price of $23.14 and a 200 day moving average price of $23.16. The firm has a market cap of $4.60 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 3.21 and a beta of 1.28.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $350.30 million during the quarter, compared to the consensus estimate of $337.83 million. Magnolia Oil & Gas had a net margin of 28.50% and a return on equity of 20.73%. Magnolia Oil & Gas's revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 earnings per share. As a group, analysts expect that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 2.51%. Magnolia Oil & Gas's dividend payout ratio (DPR) is 29.85%.

Hedge Funds Weigh In On Magnolia Oil & Gas

Large investors have recently made changes to their positions in the business. Mariner LLC boosted its position in shares of 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 in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Magnolia Oil & Gas by 4.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,470 shares of the company's stock worth $391,000 after purchasing an additional 715 shares in the last quarter. Foster Victor Wealth Advisors LLC grew its holdings in Magnolia Oil & Gas by 7.1% during the first quarter. Foster Victor Wealth Advisors LLC now owns 336,917 shares of the company's stock valued at $8,511,000 after purchasing an additional 22,402 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Magnolia Oil & Gas in the fourth quarter worth $1,370,000. Finally, Northern Trust Corp grew its stake in shares of Magnolia Oil & Gas by 7.3% in the fourth quarter. Northern Trust Corp now owns 1,936,398 shares of the company's stock worth $45,273,000 after acquiring an additional 131,941 shares during the last quarter. Institutional investors own 94.73% of the company's stock.

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.